Barclays Capital has added eight managing directors to its executive committee, after completing the integration of Lehman Brothers' US investment banking and capital market businesses.Barclays paid just $250 million for Lehman's US investment banking franchise - including derivatives operations, fixed income and equity sales, trading and research - on September 17, two days after the fallen Wall Street firm filed for Chapter 11 bankruptcy protection.
In a statement, Barclays' president Bob Diamond said: "We targeted breakeven for the acquired businesses in 2008, and in fact they are already contributing to the bottom line".
The new members of the executive committee - led by Diamond - include Iain Abrahams, head of legal, compliance, credit and market risk; Eric Bommensath, head of fixed income, Patrick Clackson, chief financial officer, head of equities Gerald Donini and Skip McGee, head of investment banking.
Joining them will be Ivan Ritossa, Asia-Pacific head of foreign exchange, prime services and global markets trading; Guglielmo Sartori di Borgoricco, head of global distribution; and Benoit de Vitry, head of commodities, emerging markets and global markets trading.
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