Wednesday, January 9, 2008
Barcap banker given marching orders
Barclays' investment banking arm is losing one of its co-presidents, the company said Tuesday, as the British bank struggles to overcome write-downs related to the collapse of the U.S. subprime mortgage market. Grant Kvalheim is leaving Barclays (nyse: BCS - news - people ) Capital and Co-president Jerry del Missier was named president, the company said. Kvalheim, a 51-year-old banker who joined Barclays Capital from Deutsche Bank (nyse: DB - news - people ) in 2001, will leave Barclays at the end of the current quarter.