Barclays names new global head of equities and new global head of equities distribution

Incoming new hires join from Morgan Stanley and NYDIG; bolsters Barclays’ equities division which reportedly contributes around 45% of its wallet.

Barclays has appointed a new global head of equities and a new global head of equities distribution, The TRADE can reveal.

Scott McDavid will join the bank as its new global head of equities in September, reporting into Adeel Khan, co-head of global markets, in New York, according to an internal memo seen by The TRADE.

In his new role he will be responsible for equities distribution and prime, as well as having a strategic focus on the bank’s platform complex.

He takes up his new role after previously serving at Morgan Stanley in its equities franchise for 18 years, most recently as its co-head of equities trading for Americas.

Alongside McDavid’s appointment, Ronnie Wexler has been appointed as global head of equities distribution at the bank, effective from June. He will be responsible for growing the bank’s equities client franchise and will report to Stephen Dainton, co-head of global markets at Barclays, in New York.

Wexler joins Barclays from NYDIG where he had been global head of business development since August 2020. Previously, he notably spent 19 years at Goldman Sachs in several senior positions across securities division distribution, including as partner and co-head of Americas equities distribution and execution.

“We have made terrific progress in growing our equities business over the last four years, including delivering £1bn in incremental revenue and increasing market share by 150bps between 2019-2022,” Dainton and Khan said in a statement.

“Looking ahead, Scott and Ronnie will help us continue to evolve the business, execute our next set of priorities, and deliver our next phase of growth.”