Barclays appointed Derek McNulty as global co-head of chemicals investment banking, Derek Davidson as head of Americas commercial, residential and industrials services, and Jared Itkowitz as head of Americas transportation and logistics within industrials investment banking. All three are based in New York and report to Spyros Svoronos, global head of industrials investment banking.
McNulty joins Barclays with close to 30 years of experience in investment banking, most recently as head of North America chemicals at Citigroup in New York. He joined Citigroup in July 2022, having previously been a managing director at Jefferies in New York since the beginning of 2019. From 2006 to 2019, McNulty was with Barclays, covering strategic and financial sponsor backed chemical companies, and at the time of his departure was the head of Americas chemicals. Throughout his career, he has executed more than $75 billion in strategic advisory mandates as well as equity and debt transactions for blue chip clients including Dow, Eastman Chemical, LyondellBasell, Westlake, Element Solutions, Chemours. Air Products and Axalta. In addition, he has extensive deal experience with top tier sponsors including Carlyle, Blackstone, Bain, HIG, New Mountain, Cerberus and American Securities. In his new role at Barclays, McNulty will work in partnership with Gabriel Gruber, global co-head of chemicals investment banking.
Davidson will join Barclays from Morgan Stanley, where he was a managing director based in New York leading coverage of companies providing commercial, residential and professional services. He has also spent time across large cap diversified industrials and building products coverage. Davidson joined Morgan Stanley in 2010, spending his first 11 years with the firm in the global services group and the last three years as part of the global industrials group. Throughout his career, he has experience advising corporate and financial sponsor clients on strategy, transformative M&A, defense, as well as equity and debt capital raising. During his time at Morgan Stanley, he executed transactions for notable clients including Rollins, Iron Mountain, Allied Universal, CBRE, ADP, Brightview, 3M, Divisions Maintenance Group, Hunter Douglas, Service Logic and BGIS. In addition, he has extensive experience working with financial sponsors including Carlyle, Blackstone, Bain, KKR, HIG, New Mountain, Warburg Pincus, Roark and Leonard Green.
Itkowitz has been with Barclays for over 15 years, and began his career in Equity Linked & Hybrid Solutions working in both New York and Hong Kong. In 2014, he relocated back to New York and joined the industrials group, where he has spent the past decade covering transportation and automotive clients on a range of strategic and capital raising assignments. Itkowitz has played a leading role on a number of high-profile transactions across the transportation and mobility sectors, including Rivian’s $12 billion IPO, EQT Infrastructure’s $6.4 billion LBO of First Student and First Transit and its subsequent sale of First Transit to Transdev, General Motors’ $10 billion ASR and KAR Auction Services’ spin-off of IAA.
“We at Barclays have a leading global industrials franchise, which forms a key pillar within our broader investment banking business,” Spyros Svoronos, global head of industrials investment banking at Barclays, said. “These appointments demonstrate our continued investment in our platform as we work to most effectively serve our clients with best-in-class strategic advice and execution.”
