November 30, 2023

Investment Banking

Let Your Investment Banking Do The Walking

Barclays lands tech, media and telecom banker James McKenna from RBC Capital Markets to head diversified industries unit

Barclays has hired technology and telecom deal maker James McKenna as its new head of the investment dealer’s diversified industries group, replacing veteran executive Alan Mayne, who plans to retire this summer.

Mr. McKenna is joining Barclays after 22 years at RBC Capital Markets, where he most recently headed the telecom, media and technology investment banking team. Mr. McKenna started his career at BCE Inc., then went on to advise the telecom company on a number of major transactions where Barclays bankers were on the other side of the table.

“We are excited to welcome James to our team as we continue to invest our Canada franchise and expand our client advisory capabilities,” said Bruce Rothney, Barclays’ Toronto-based chief executive and country head in Canada. Mr. Rothney was head of investment banking at RBC Capital Markets before joining Barclays in 2010.

Mr. Mayne worked for Barclays for the past 11 years, including a recent mandate advising Rogers Communications Inc. on its $26-billion bid for Shaw Communications Inc., Canada’s largest telecom takeover.

Over the course of 35 years in finance, Mr. Mayne also worked at TD Securities and UBS Securities and did two tours as a chief financial officer, at Harry Winston Diamonds and broadcaster CHUM. He plans to retire in June.

The Canadian arm of London-based Barclays plc is one of a handful of foreign-owned investment banks with both advisers and a domestic equity sales, trading and research team. In Canada, Barclays splits its corporate clients between diversified industries, energy, mining and financial services. So in addition to tech and telecom sectors, Mr. McKenna and his team cover industrial, transportation, power and life science companies.

In recent years, Barclays has been a player in Canadian mergers and acquisitions and financing activity. The dealer ranked fifth on M&A activity in 2021 by advising on 24 transactions worth US$77.2-billion, according to data service Refinitiv.

Mr. McKenna is expected to start work in July. He will report to Barclays’ Calgary-based head of investment banking, Tim Kitchen. In a press release, Mr. Kitchen said: “Canada is a core part of Barclays’ franchise, and we know that James’s expertise will help us to consolidate our position with clients as the leading nondomestic investment bank.”

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