Barclays Capital expands executive committee

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.

See also: Barclays buys Lehman's capital markets business in the US