Barclays Names Americas M&A Chief

NEW YORK (Reuters) – Barclays Capital, a unit of British bank Barclays Plc (BARC.L), on Wednesday said it named Gary Posternack as head of its mergers and acquisitions business in the Americas.

Posternack, previously the head of Barclay’s natural resources M&A and M&A takeover defense practices, will oversee the M&A teams in the U.S., Canada and Latin America, the company said.

Barclays bought Lehman Brothers Holdings Inc (LEHMQ.PK) core U.S. operations in September.

Posternack, who had been at Lehman Brothers since 1995, will report to Barclays head of global M&A Paul Parker, also a former Lehman banker.

Some of the major deals Posternack has worked on include Chevron’s $19 billion acquisition of Unocal, GlobalSantaFe’s $18 billion merger with Transocean and Kerr-McGee’s $18 billion sale to Anadarko. (Reporting by Michael Erman; editing by Carol Bishopric)