Barclays Appoints New Leveraged Loan Head

(Reuters) – Barclays Capital (BARC.L) has appointed Tim Broadbent to lead its U.S. Leveraged Loan Syndicate team, according to an internal memo, filling a gap left when Bill Hughes departed to join Citigroup (C.N).

Broadbent will report to both Peter Toal, head of the bank’s U.S. Leveraged Finance Syndicate, and Tim Ritchie, head of Loan Syndicate, according to the memo, part of which was obtained by Reuters.

Broadbent, who joined Barclays in 2006, has over 20 years’ experience with both Barclays and JPMorgan (JPM.N), the memo said.

Barclays has been involved in financing large deals such as Pfizer Inc’s (PFE.N) acquisition of Wyeth and Kraft Food Inc’s (KFT.N) offer for Cadbury Plc (CBRY.L); as well as leveraged deals such as the buyout of IMS Health (RX.N) by TPG Capital and CCP Investment, and Blackstone’s (BX.N) acquisition of Anheuser-Busch Inbev’s U.S. theme parks.

Hughes starts at Citi in January, where he will be head of Leveraged Syndicate for Capital Markets Origination Americas.

Barclays Capital, which is the investment banking division of Barclays Bank, also recently formed a Loan Capital Markets group to oversee the origination and structuring of loans as well as investment grade acquisition financing, a source familiar with the situation said. That is led by Claire O’Connor.