LONDON & NEW YORK - Barclays has announced the promotion of Brad Rogoff to the position of Global Head of Research, effective from October 1, 2024. Rogoff, who has been with the company since 2002, will take on his new role after serving as the Head of FICC Research. He will report to Stephen Dainton, Head of Investment Bank Management and President of BBPLC, and will also join the Investment Bank Management Team, US Executive Committee, and chair the Research Executive Forum.
Rogoff's career at Barclays began following the acquisition of Lehman Brothers in 2008, where he had been part of the graduate scheme since 2002. His leadership roles have included managing the Emerging Market Corporate Credit Research team since 2016, and subsequently the Developed Market Credit Research team in 2018. In 2022, Rogoff took on global responsibility for FICC research.
Under Rogoff's guidance, Barclays has achieved significant recognition in the field of Fixed Income Research, ranking in the Top 3 Globally in Institutional Investor's annual survey for the years 2022 and 2023. Rogoff and his team have been consistently ranked by Institutional Investor in the High Yield Credit Strategy category since 2009. Additionally, their US Credit Alpha publication has been recognized as one of the best weekly credit research publications for over ten years.
Dainton praised Rogoff's deep knowledge and track record, expressing confidence in his ability to advance Barclays' research strategy. He emphasized that under Rogoff's leadership, the firm aims to continue providing innovative and differentiated content to assist clients in the current dynamic market environment.
Earlier in September, Barclays achieved a top-five ranking for European Equity Research in the Extel survey for the second consecutive year. The bank also attained the number one position for pan-European Research and UK Research, as voted by UK clients. Globally, Barclays was ranked fourth as a research firm and third for Developed Markets based on Institutional Investor surveys in 2023.
Barclays, a diversified bank, aims to be a leader in global finance centered in the UK, offering services across consumer, corporate, wealth and private banking, as well as investment banking and a specialized US consumer bank. The information in this article is based on a press release statement.
In other recent news, Barclays has made significant changes in its leadership. The bank has appointed three key executives within its Industrials Investment Banking division and named Jonathon Traer-Clark as the new Head of Americas for its Global Transaction Banking (GTB) division. These appointments include Derek McNulty as Global Co-Head of Chemicals, Derek Davidson as Head of Americas Commercial, Residential and Industrials Services, and Jared Itkowitz as Head of Americas Transportation and Logistics.
The reshuffling is part of Barclays' commitment to strengthening its Global Industrials franchise and expanding its services for UK and European businesses operating in the US. McNulty, Davidson, and Itkowitz bring extensive experience from their previous roles at Citigroup, Jefferies, and Morgan Stanley, respectively, and have managed significant transactions for major clients.
Traer-Clark, with over three decades of experience in international finance and corporate treasury, is expected to enhance the bank's cross-border services. These recent developments underscore Barclays' ongoing expansion efforts in the Americas and its commitment to providing clients with top-tier strategic advice and execution capabilities. Barclays' Industrials group has been active in recent notable transactions, such as advising on Koch's acquisition of IFCO and participating in the financing of JetBlue Airways (NASDAQ:JBLU)' $3.2 billion financing.
InvestingPro Insights
As Barclays positions itself for future growth under Brad Rogoff's leadership in research, recent financial data from InvestingPro provides additional context to the bank's performance. Barclays currently boasts a market capitalization of $43.83 billion, reflecting its significant presence in the global financial sector.
The bank's price-to-earnings (P/E) ratio stands at 8.59, suggesting that investors are paying $8.59 for every dollar of earnings. This relatively low P/E ratio could indicate that the stock is undervalued compared to its peers, potentially aligning with Barclays' strategy to strengthen its research capabilities and market position.
Barclays has demonstrated impressive stock performance, with a year-to-date price total return of 60.67% as of the latest data. This substantial increase suggests that investors are responding positively to the bank's strategic moves, including the emphasis on research excellence highlighted in the article.
InvestingPro Tips further enrich our understanding of Barclays' financial health:
1. Barclays has maintained dividend payments for 28 consecutive years, showcasing its commitment to shareholder returns.
2. The company's earnings per share (EPS) growth has outperformed the banking industry average over the past three years, indicating strong financial performance relative to its peers.
These insights from InvestingPro complement the article's focus on Barclays' research prowess and strategic appointments. The combination of strong stock performance, consistent dividends, and industry-leading EPS growth suggests that Barclays is well-positioned to capitalize on its research strengths under new leadership.
For investors seeking a deeper dive into Barclays' financial health and prospects, InvestingPro offers an additional 17 tips, providing a comprehensive analysis to inform investment decisions.
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