Barclays Capital has hired Mark Pibl, Institutional Investor's top-ranked energy analyst last year, from Merrill Lynch, to lead U.S. investment grade research. The hire is the latest stage in Barclays' effort to build up its U.S. credit business, according to John Stathis, managing director and head of global market sales. He says Pibl will now lead a search for additional talent in the financial, utility, and industrial sectors (BW, 6/18). Pibl, who is expected to start today, fills a position vacant since the departure of Shawn Burke earlier this year.
Stathis says that though he spoke with candidates who have experience leading high-yield research groups, and he chose Pibl because he is a highly respected analyst who, he feels, will run with the opportunity. Pibl says he left Merrill because "the opportunity to become the head of a research department, and build it, isn't always presented to you." He also believes Barclays is committed to building its U.S. business, having hired a trio of senior bankers from Deutsche Bank Securities earlier this year.
Stathis says Pibl will report to him, and probably Gary Jenkins, who is based in London, where he runs European and global credit research. At Merrill, Pibl reported to Bill Reid and Jay Weintraub, co-heads of investment grade research. They did not return calls.