Boston, MA 08/04/2014 (wallstreetpr) – Goldman Sachs Group Inc (NYSE:GS) is taking Barclays PLC’s former Merger & Acquisitions chief Paul Parker as its co-chairman of mergers group. Parker is seen among the prominent bankers, who have been at the core of mega deals like Valeant Pharmaceuticals International Inc and Allergan Inc as well as Comcast Corp and Time Warner Cable Inc.
Increasing M&A Deals
Parker is a Lehman Brothers veteran, who had exited from Barclays in May. He is expected to join Goldman Sachs Group Inc (NYSE:GS) within a period of few weeks, according to a Goldman Sachs representative. The appointment of Parker signals Goldman’s increased desire to strengthen its M&A team just in time, when the Wall Street and Europe are flooding with deals. Parker will share his role with other existing dealmakers like Jack Levy and Tim Ingrassia. Parker is expected to manage some of the bank’s significant client relationships. In the meanwhile, Gregg Lemkau and Gene Sykes will continue to see the bank’s global M&A profile.
From Lehman To Barclays
Parker worked with Lehman Brothers as chief M&A banker, and was shifted to same profile in Barclays after the latter acquired Lehman during the 2008 collapse. Parker is well-known among peers as well as rivals as a level-headed M&A banker. Parker had contributed immensely during his career stint at Barclays, as the bank witnessed its M&A deals soaring through the U.S. and Europe. Under Parker’s tenure, Barclays completed some of the largest deals, one of which worthmentioning is Reynolds American and Lorillard merger deal of $27.4 billion.
On the other hand, Barclays has seen a number of high-profile exits in the last few months, which includes Hugh McGee, Americas business head. However, according to Barclays CEO Antony Jenkins, Parker’s departure should hopefully be the last one for the bank now as he does not see any more outgoing in the United States.
