Bloomberg News

Barclays Says Weiss to Retire as Financial Institutions Head

March 29, 2012

Barclays Plc’s (BARC) Jeffrey Weiss, an investment banker with experience at firms such as Capital One Financial Corp. (COF:US) and MetLife Inc. (MET:US), plans to leave the bank in June, according to an internal memorandum obtained by Bloomberg.

Weiss, 51, is based in New York and is head of financial institutions investment banking worldwide at Barclays. He previously held the same role at Lehman Brothers Holdings Inc. (LEHMQ:US), where he worked from 1983 until 2008, when Barclays acquired Lehman’s North American operations. Weiss is retiring to “pursue entrepreneurial opportunities,” according to the memo.

Barclays, Britain’s second-largest lender by assets, ranks fifth in advising on global financial M&A this year, according to data compiled by Bloomberg. That puts the London-based firm on pace to finish in the top 15 advisers of financial institutions for the fourth straight year since it gained Weiss and Lehman’s unit in 2008, the data show.

Barclays, which failed to make the top 50 for financial institutions deals the year before Weiss joined, advised Capital One on its $9 billion purchase of ING Groep NV (INGA)’s U.S. online bank, completed last month. In 2010, Weiss’s group counseled MetLife’s board on its acquisition of American Life Insurance Co. from American International Group Inc. (AIG:US) and helped Prudential Financial Inc. (PRU:US) complete a deal last year to buy $4.8 billion of assets from AIG.

To contact the reporter on this story: Will Robinson in New York at wrobinson11@bloomberg.net

To contact the editor responsible for this story: Jennifer Sondag at jsondag@bloomberg.net


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Companies Mentioned

  • COF
    (Capital One Financial Corp)
    • $82.88 USD
    • 0.70
    • 0.84%
  • MET
    (MetLife Inc)
    • $55.28 USD
    • 0.03
    • 0.05%
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