Finance

Barclays investment bank vice chair Mark Astaire quits industry after 35 years

Barclays’ vice chairman of investment banking in Europe is leaving the sector after 35 years in the latest change in the upper ranks of the UK lender’s advisory business.

Mark Astaire — who holds two roles as chairman of corporate broking and vice chair of investment banking in Europe, the Middle East and Africa at Barclays — is set to step down from the bank at the end of July, he said in a LinkedIn update.

Astaire, a well-known figure in the City, has worked at Barclays for the past decade in a senior role focused on UK clients. He joined the UK lender in 2012 from Bank of America, where he was vice chair and headed up its corporate broking division.

“After more than 35 years working in investment banking with the past 10 years at Barclays, I have decided to leave the industry at the end of July,” Astaire wrote on LinkedIn.

READ UBS hires Barclays’ Esteve to head up European equity banking

Corporate broking is integral to winning deals in UK investment banking. Senior dealmakers maintain relationships with the C-suite of UK Plc, with the aim of becoming so-called trusted advisors and winning lucrative advisory mandates down the line. Jefferies, Citigroup and Deutsche Bank are among the investment banks to make key hires in this area in recent months as part of a broader push to gain more market share in the UK.

READ Barclays’ co-head of FIG Darren McKay departs for boutique FT Partners

Astaire started out in the 1990s working for City broker Hoare Govett, which was later acquired by Jefferies and has been a key part of its expansion in the UK.

Barclays has been shaking up the senior ranks of its investment bank in recent months and a number of senior dealmakers have departed. Manuel Esteve, its head of equity capital markets in Emea, left for a similar role at UBS, Financial News reported, while financial institutions banker, Ed Skilton, departed for a senior role at Nomura.

To contact the author of this story with feedback or news, email Paul Clarke

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