Barclays has tapped a senior dealmaker from Jefferies to co-head its European financial sponsors group, as the British lender bolsters its investment banking ranks amid a pickup in mergers and acquisitions.
New Appointment
Eren Yildiz, a managing director at Jefferies who focused on financial sponsors, will join Barclays as co-head of European financial sponsors, according to a person familiar with the matter. He will start later this year and report to James Bampfylde and James Boadle, who lead the bank's financial sponsors coverage in Europe, the Middle East and Africa.
Role and Responsibilities
Yildiz will work alongside existing co-heads to oversee the bank's relationships with private equity firms and other financial sponsors across Europe. His appointment comes as Barclays seeks to expand its advisory work for buyout firms, which have been active in dealmaking despite a broader slowdown in mergers and acquisitions.
Background
Yildiz spent over a decade at Jefferies, where he advised on a range of leveraged buyouts, takeovers and debt financings. His experience includes working on deals for clients such as BC Partners, Cinven and Permira. Before Jefferies, he worked at UBS and JPMorgan.
Strategic Move
The hire is part of Barclays' broader push to grow its investment bank, particularly in areas where it sees opportunity. Financial sponsors have been a bright spot for dealmaking, with private equity firms sitting on record levels of dry powder and seeking to deploy capital. Barclays has been investing in its financial sponsors team across Europe and the US, adding senior bankers to advise on transactions.
Market Context
The appointment comes amid a cautious recovery in European M&A, with deal volumes picking up after a sluggish 2023. Barclays has advised on several high-profile deals this year, including the acquisition of Morrisons by Clayton, Dubilier & Rice, and the sale of Dr. Martens to Permira.
Barclays declined to comment on the hire. Jefferies did not immediately respond to a request for comment.
