Jefferies Financial Group Inc. is hiring Barclays Plc executive Sven Baumann, the latest high-profile departure from the British firm since a leadership shakeup at its investment bank, people with knowledge of the matter said.
(Bloomberg) — Jefferies Financial Group Inc. is hiring Barclays Plc executive Sven Baumann, the latest high-profile departure from the British firm since a leadership shakeup at its investment bank, people with knowledge of the matter said.
Baumann is set to join Jefferies in Frankfurt this fall as head of investment banking for Germany, Austria and Switzerland, the people said, asking not to be identified because the information is private. He most recently served in the same role at Barclays.
The dealmaker joined Barclays last year from Citigroup Inc., where he spent seven years and led the investment banking franchise in Germany.
A representative for Jefferies declined to comment. A spokeswoman for Barclays confirmed Baumann is leaving the firm and declined to comment further.
New York-based Jefferies has poached several top Barclays bankers in recent months after the British firm named Cathal Deasy and Taylor Wright as global co-heads of its investment bank in January. John Miller, who was Barclays’s global chairman of investment banking, is among those who have joined Jefferies.
Barclays Chief Executive Officer C.S. Venkatakrishnan said in a Bloomberg Television interview earlier this month that the leadership reshuffle and focus on new areas of growth contributed to higher-than-usual attrition among dealmakers in recent months.
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