Barclays Capital, Barclays PLC's investment banking division, has completed the integration of the North American businesses of Lehman Brothers acquired in September 2008.
As the final step in the integration, it has strengthened the leadership of the expanded firm by promoting eight senior managing directors to its executive committee.
"The completion of the integration is a significant milestone for our clients, shareholders and employees, four months after announcing the acquisition," said Bob Diamond, Barclays PLC president. "Our clients now have the benefit of a fully integrated investment bank able to offer the full array of risk management, financing and advisory products. We are now operating as one firm using our business principles to manage risk, manage costs and stay close to our clients. As we said, we targeted breakeven for the acquired businesses in 2008, and in fact they are already contributing to the bottom line."
The enlarged Executive Committee now includes: Diamond, Jerry del Missier, Rich Ricci,
Iain Abrahams, Eric Bommensath, Patrick Clackson, Gerald Donini, Roger Jenkins,
Hugh 'Skip' E. McGee III, Robert Morrice, Ivan Ritossa,Guglielmo Sartori di Borgoricco,
Benoit de Vitry, Archie Cox (ex-officio), and,Hans-Joerg Rudloff (ex-officio).