Barclays Capital has hired Patrick Galloway to head its collateralized debt obligation group. According to sources, he started at Barclays this Monday, filling the position left open by Eileen Murphy, who stepped down as group head last fall.

Galloway, who in 1999 was co-head of structured finance at pre-merger PaineWebber, will report to Barclays' Vince Balducci, managing director and head of credit derivatives.

Galloway was most recently at CDO shop Invesco Inc. Invesco has been a fairly prolific issuer of CDOs, pricing two transactions so far this year alone, most recently a high yield loan backed deal called Champlain.

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