Moves: Top Barclays software banker to join Centerview - sources (updated)

Credit Suisse AG

06/06/2023 01:30

(Adds Ben Freeland left Barclays global software banking head)
    By Svea Herbst-Bayliss and Milana Vinn
       NEW YORK, June 5 (Reuters) - Barclays Plc's  BARC.L 
global co-head of software investment banking Steven Markovich
resigned to join Centerview Partners, people familiar with the
matter said on Monday, the latest blow to the British bank's
efforts to retain U.S. dealmaking talent.
    Markovich had been one of Barclays' most successful
technology bankers over 14 years with the bank. Among his deals
last year were Vista Equity and Elliott Management's acquisition
of business software maker Citrix Systems for $17 billion, and
information management vendor OpenText's $6 billion acquisition
of software company Micro Focus. 
    More than two dozen U.S. investment bankers have left
Barclays since it named former Credit Suisse Group AG  CSGN.S 
investment banking and capital markets co-head Cathal Deasy and
former Morgan Stanley  MS.N  global capital markets co-head
Taylor Wright as global co-heads of investment banking in
January. 
    The elevation of these newcomers bypassed tenured Barclays
bankers that had been seen as possible successors, including
those popular with colleagues such as Marco Valla, who
subsequently joined UBS, Reuters reported last week. Barclays
Chief Executive C.S. Venkatakrishnan held a town hall last
Wednesday in a bid to boost morale and stem the outflow of
talent.
    Barclays declined to comment on Markovich's exit and said in
a statement it expected its changes in the investment banking
team's leadership to lead to "natural attrition". "We are
confident in our strategy, will continue to invest in talent,
and we are committed to supporting and helping clients navigate
today’s economic environment," the bank said.
    Markovich and Centerview declined to comment.
    Ben Freeland, who served as global co-head of software
investment banking at Barclays alongside Markovich, will now be
sole head, the sources said. 
    Centerview has been seeking to rebuild its franchise in
software banking. Emlen Fischer, a partner on Centerview's
software investment banking team, announced last week he would
join Factorial Energy, a battery technology developer for
electric vehicle applications, as chief financial officer. In
May, Kempton Dunn, another partner on the software team, left
Centerview to join Perella Weinberg Partners  PWP.O .
    Many of the dealmakers that left Barclays this year were
technology bankers. Among them were Laurence Braham, Richard
Hardegree, Ozzie Ramos, Jason Williams, Neil Meyer and Ed Wehle.
    

 (Reporting by Svea Herbst-Bayliss and Milana Vinn in New York;
Editing by David Gregorio and Sherry Jacob-Phillips)
 ((svea.herbst@thomsonreuters.com; +617 856 4331; Reuters
Messaging: svea.herbst.thomsonreuters.com@reuters.net))