Citigroup has snagged Barclays' head of U.S. leveraged loan syndications to head up its leveraged syndicate group for the Americas.
William Hughes will be based in New York and will be responsible for underwriting and distributing leveraged loans and high yield bonds. He will work closely with Ish McLaughlin, Citi’s head of the investment grade bond syndicate in the Americas, and Phil Drury, the bank's head of the equity syndicate in the Americas.
Hughes resigned Monday from Barclays and will reportedly take several months off before joining Citi.
At Barclays, Hughes reported to Peter Toal, the head of leveraged capital markets for the Americas. For now, Toal will assume Hughes' responsibilities, which include high yield bonds and leveraged loans.
Toal reports to Joe McGrath, who runs Barclay’s global leveraged finance group. Hughes previously worked at Lehman Brothers, joining Barclays when the firm was absorbed into the British bank. A Barclays spokesman declined to comment.