This article was originally published on this site
LONDON. — Barclays has hired Stephen Dainton, a former Credit Suisse executive, to be global head of equities.
Dainton left Credit Suisse earlier this year, having previously run Credit Suisse’s equities business in Europe and later coheaded the Swiss bank’s markets business in the region. He will be based in London and report directly to Tim Throsby, the head of Barclays’ corporate and investment bank. Throsby, who joined Barclays in January, was previously global head of equities at JPMorgan.
“Stephen will work with the Equities leadership team to accelerate delivery of our strategy to grow revenue and market share with a strong focus on our clients, conduct and controls,” Throsby said in a memo announcing the appointment. A spokesman for Barclays confirmed the contents of the memo.
Barclays generated £455 million, or $590 million, in equities revenue in the first half of the year, up 12 percent from a year earlier, with the bank citing growth in equity financing and cash equities revenue. The unit generated 17 percent of Barclays’ corporate and investment bank revenue in the period. — Markets Insider.