Barclays hired a Nomura MD who's been out of the market for two years
As Barclays rebuilds its US financial sponsors business, it's hired a former Nomura managing director (MD) who's been out of the market since January 2023.
Scott Willard spent five years as a managing director at Nomura, before leaving the Japanese bank two years ago. He was previously a managing director on the financial sponsor team at UBS between 2010 and 2017.
Willard has joined Barclays' New York financial sponsor team as an MD. Barclays didn't immediately respond to a request to comment on his arrival. It's not clear what Willard has been doing during his time away, but it's possible he was absent for family reasons. He also appears to be a keen fisherman and may have been catching fish.
Barclays has been hiring for its US financial sponsors team ahead of the much hoped for industry-wide recovery in financial sponsors activity. Last August, it hired Martin Douglass from Morgan Stanley as head of financial sponsors M&A in the US. In June, it hired Carlo De Carlo, a UK-based financial sponsors MD from Bank of America in London.
Barclays' financial sponsors group is run by JF Astier, the popular former head of its investment bank. Barclays has been adding senior bankers in America after losing over a dozen to UBS in 2023. However, it also appears to have at least £650m of costs still to cut in its investment bank before 2025, so the new arrivals are under pressure to generate fees.
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