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Barclays hires technology services banker from Deutsche Bank

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By Reuters
Barclays hires technology services banker from Deutsche Bank
Barclays' building in Canary Wharf is seen behind a City of London sign outside Billingsgate Market in London, Britain, August 8, 2018. REUTERS/Hannah McKay   -   Copyright  HANNAH MCKAY(Reuters)

By Liana B. Baker and Carl O’Donnell

NEWYORK (Reuters) – Barclays PLC <BARC.L> said on Friday it had hired an investment banker from Deutsche Bank AG <DBKGn.DE>, Ed Wehle, to focus on technology services deals based in New York.

Wehle, who is a managing director, will become head of global technology services banking and report to Barclays co-heads of technology banking in the Americas, Greg Dalvito and Laurence Braham, Barclays said in a statement.

A spokeswoman for Deutsche Bank declined to comment.

Wehle joined Deutsche Bank in 2017 but spent most of his 25-year career at Citigroup Inc <C.N>, the memo said.

In 2016, Wehle advised on the sale of Dell’s Perot Systems to NTT Data Corp <9613.T> as well as the merger between Leidos Holdings Inc <LDOS.N> and Lockheed Martin’s <LMT.N> IT services business.

Just about every investment bank has been scrambling to hire bankers specializing in technology to keep up with demand from clients across industries which are grappling with sweeping changes to their businesses ranging from automation to artificial intelligence.

Deutsche Bank said it hired a software banker Matthew Upton from Mizuho on Thursday.

Technology services providers such as IBM, Cognizant Technology Solutions and Accenture have been expanding their offerings in digital and cloud services through acquisitions to boost their profitability is under pressure as corporate clients demand more work for less money.

(Reporting by Liana B. Baker and Carl O’Donnell in New York; Editing by Susan Thomas)