Barclays hires Oberle from JP Morgan to oversee private equity relationships for the US.
Barclays has hired Christian Oberle from JPMorgan Chase to oversee relationships with private equity (PE) firms in the US region, Barclays confirmed on Friday.
Oberle will lead the Financial Sponsors group in the US, reporting to Jean-Francois Astier, who will lead the group globally. Barclays has long been looking to expand its relationships in PE.
JP Morgan had no comment. Oberle did not immediately respond to a phone call and voicemail seeking comment.
Oberle’s hiring comes as Barclays makes separate plans to cut hundreds of jobs at its domestic retail operations and as part of an annual review of the investment bankers’ performance.
CEO CS Venkatakrishnan has appointed new leaders in the investment banking division this year. While the unit has added more than 20 managing directors, there has also been a wave of exits.
Oberle left JPMorgan months after another former senior JPMorgan banker, Marco Gagiano, left the US bank to join rival Morgan Stanley as vice president of mergers and acquisitions.
Wall Street banks have laid off thousands of employees in recent months in response to a slowdown in the number of deals. The decline prompted experienced bankers to move from firms such as Goldman Sachs and Bank of America to larger rivals or smaller competitors.
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