Barclays Appoints Jim Birchenough as Chairman of Global Healthcare Investment Banking

 Barclays Appoints Jim Birchenough as Chairman of Global Healthcare Investment Banking

Barclays Appoints Jim Birchenough(Image-Getty)

Barclays Plc (BARC.L) has officially appointed Jim Birchenough as its Chairman of Global Healthcare Investment Banking, according to a spokesperson from the British bank. The confirmation comes after Reuters reported on the appointment last Friday.

Birchenough most recently held the position of Vice Chairman of Biopharma Investment Banking at Wells Fargo. Wells Fargo declined to comment on the matter.

Based in San Francisco, Birchenough had previously worked at Barclays as a research analyst specializing in biotech companies. He also held similar roles at BMO Capital Markets and Lehman Brothers earlier in his career.

In his new role, Birchenough will lead Barclays' global biopharma investment banking unit, working alongside Alexis de Rosnay, who joined the bank last year. De Rosnay will take on an expanded role in addition to his current responsibilities as Chairman of Global Healthcare Investment Banking.

The addition of Birchenough is seen as a positive development for Barclays' healthcare investment banking unit, which faced a setback earlier this year when its Vice Chairman, Darren Campili, departed for Wells Fargo.

Richard Landgarten, Global Head of Healthcare and Real Estate Investment Banking at Barclays, praised Birchenough's experience, saying, "Jim has a real track record, and it's well known within the industry, both from his tenure as a banker and his tenure as a research analyst."

Barclays has seen over two dozen U.S. investment bankers leave the firm since the appointment of two new Global Co-Heads of Investment Banking in January. Cathal Deasy, former co-head of Credit Suisse Group AG investment banking and capital markets, and Taylor Wright, former co-head of Morgan Stanley global capital markets, assumed the positions.