Barclays Capital has a new head of global finance for Canada, bringing on banking veteran David Scudellari to help clients in this country tap markets around the world.
Mr. Scudellari boasts a long resume from a career spent raising money from debt markets. At Barclays, he'll be responsible for that and much more. He will oversee Canadian origination of leveraged finance, high yield, investment grade debt, equity and the hedging products that go with all that.
"He's unique in the classic American leveraged finance space in that he's spent a great deal of his time in Canada, working with many leaders across many industries," said Bruce Rothney, the country head for Barclays in Canada.
Mr. Scudellari will continue in cross-border mode, as he will be based out of both Toronto and New York, and will likely spend a lot of time in Calgary as well.
All are towns he knows well.
Mr. Scudellari spent 23 years at Goldman Sachs, where he held senior roles on the fixed income side before finishing up his career there as head of industrials in the Americas financing group. He then spent three years at Barclays as head of industrials in leveraged finance.
After that, he moved to the corporate side, becoming chief financial officer of North West Upgrading, a privately held company that is building a new bitumen upgrader in Alberta. His job was to help the company raise the capital it needed to build the upgrader. With the project now moving into construction phase, he's moving back to banking.
At Barclays, Mr. Scudellari will lead "cross product" coverage for Canadian clients, as the firm is of the belief that that clients don't want to look at just one avenue for capital raising.
"We put all those things together in one team and are letting Dave drive that," Mr. Rothney said.