Barclays has hired Emmanuel Galle, a senior dealmaker from Citigroup, to co-lead its industrials investment banking team in Europe, according to a person familiar with the matter. Galle is expected to join the British bank later this year.
Galle's background and new role
Galle spent over a decade at Citigroup, where he most recently served as managing director and head of the industrials team for Europe, the Middle East and Africa. He advised on major transactions including the €5.4 billion sale of German industrial group Siemens' mechanical drive business to Atlas Copco in 2021.
At Barclays, Galle will work alongside existing co-heads to oversee the industrials sector across Europe. The bank's industrials practice covers aerospace, defense, engineering, machinery, and transportation.
Barclays' investment banking strategy
The hire is part of Barclays' broader push to strengthen its European advisory business. The bank has been selectively adding senior bankers in sectors such as technology, healthcare, and financial sponsors. In 2023, Barclays ranked eighth in European M&A advisory by deal value, according to Refinitiv data.
"Emmanuel is a highly respected banker with deep expertise in the industrials sector," a Barclays spokesperson said in a statement. "His appointment underscores our commitment to growing our advisory capabilities in Europe."
Competition for top dealmakers
Barclays' move comes as global banks compete for experienced M&A bankers amid a subdued dealmaking environment. While European M&A volumes fell 28% in the first half of 2024 compared to the same period last year, banks are positioning for a recovery expected in 2025.
Citigroup has not yet announced a replacement for Galle. The bank's industrials team in EMEA will be covered by other senior bankers in the interim.
