Barclays bolsters US CLO biz with new hires

Barclays has hired a new head of CLO origination and syndication from Citi, as well as hiring two bankers from Natixis to set up a new middle market CLO platform.

  • By David Bell
  • 16 May 2018
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Barclays has hired John Clements, the former head of Citi’s primary CLO business, as head of US CLO origination and syndication. Clements will join the bank in New York in late July and report to Drew Mogavero, head of US credit flow trading.

The bank is also setting up a new middle market CLO platform, according to a spokesperson. The firm has hired Mike Hopson and Lorraine Medvecky from Natixis to lead the bank’s efforts in that sector. They will also start in late July.

The CLO primary market has been on a tear this year, with volumes hitting $59bn at the end of last week — a 94% year on year increase, according to JP Morgan analysts.

That figure includes around $6bn of middle market deals and $12bn of “reissues”, where a CLO manager calls an old deal to roll the assets into a new structure. The bank is forecasting $115bn-$130bn of gross new issuance this year. Last year, $118bn of new deals were sold.

  • By David Bell
  • 16 May 2018

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 4,296 9 12.14
2 BNP Paribas 3,136 11 8.86
3 Bank of America Merrill Lynch (BAML) 3,067 11 8.67
4 Lloyds Bank 2,346 10 6.63
5 Morgan Stanley 2,138 5 6.04

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 45,886.98 133 11.32%
2 Bank of America Merrill Lynch 44,227.86 120 10.91%
3 Wells Fargo Securities 33,922.42 99 8.37%
4 JPMorgan 31,654.98 91 7.81%
5 Credit Suisse 24,807.99 61 6.12%