Barclaycard, the U.K.-based credit card company, is seeking to hire a manager for its securitization program. Ian Barber, a company spokesman, says the hire is being made to fill a need created by the increasing importance of securitization as a funding tool at Barclaycard. The new hire will be responsible for the day-to-day management of existing deals as well as being involved in generating new ones. Barclaycard is the oldest card in Europe.
Barclaycard has completed three securitizations through its Gracechurch Funding master trust vehicle. The last deal was a $1 billion offering completed in March. The deal was lead managed by Barclays Capital.