Barclays announces new leadership for Global Equities
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Scott McDavid appointed Global Head of Equities, and Ronnie Wexler appointed Global Head of Equities Distribution.
23 May 2023 – Barclays today announces the appointment of Scott McDavid and Ronnie Wexler as Global Head of Equities, and Global Head of Equities Distribution respectively.
Scott will join Barclays in September, reporting to Adeel Khan, Co-Head of Global Markets, and be based in New York. He joins Barclays after close to 20 years at Morgan Stanley where he was most recently Co-Head of Equities Trading for Americas. In this role, Scott will lead the Barclays Global Equities team and have oversight and responsibility for Equities Distribution and Prime.
Ronnie will join Barclays in June, reporting to Stephen Dainton, Co-Head of Global Markets, and be based in New York. He joins Barclays from NYDIG where he has served as Global Head of Business Development. Prior to NYDIG, he spent close to 20 years at Goldman Sachs where he held several leadership positions across Securities Division Distribution. Ronnie will be responsible for growing Barclays Equities client franchise and deepening client relationships through collaboration across sales, trading and research.
Together, Scott and Ronnie bring to Barclays a unique blend of leadership, expertise and vision, and a demonstrated track record of executing against strategy and delivering outstanding client outcomes. Their appointments reflect Barclays ambition for the Equities business, and broader aspirations within Global Markets and the Corporate and Investment Bank.
Stephen Dainton and Adeel Khan, Co-Heads of Global Markets, commented:
“We have made terrific progress in growing our Equities business over the last four years, including delivering £1bn in incremental revenue and increasing market share by 150bps between 2019-2022. Looking ahead, Scott and Ronnie will help us continue to evolve the business, execute our next set of priorities, and deliver our next phase of growth.”
Notes for Editors
- The Corporate and Investment Bank is central to the growth and performance of Barclays.
- With a diversified business model, the CIB is delivering strong and sustainable results through the cycle, and as the largest revenue contributor, Global Markets is key to this success.
- Most recently, at Q1 2023 CIB income of £3,976m (Q122: £3,938m) represented the best Q1 on a comparable basis*, reflecting strong performance in FICC, particularly Credit, as well as Financing within Global Markets, Transaction Banking, and Investment Banking Advisory.
- The Global Markets strategy has been in place for five years, shaped by existing leadership, including Stephen Dainton and Adeel Khan.
- According to Coalition, in Equity Financing, Barclays is ranked #5.
*On a comparable basis, period covering 2014-Q123. Pre 2014 data was not restated following re-segmentation in 2016.
Barclays Corporate and Investment Bank is comprised of the Investment Banking, International Corporate Banking, Global Markets and Research businesses. It provides money managers, financial institutions, governments, supranational organisations and corporate clients with services and advice for their funding, financing, strategic and risk management needs. For further information about Barclays Corporate and Investment Bank, please visit our website www.cib.barclays.