(Bloomberg) -- Barclays Plc named Ihsan Essaid as sole head of global mergers and acquisitions, while his former co-head, Gary Posternack, moves into a new role as chairman of global M&A.

Essaid joined Barclays in 2021 and was promoted to co-head of global M&A alongside Posternack in March 2022, according to a memo announcing the changes. He previously worked at Credit Suisse Group AG.

Posternack asked for the change to be able to focus on developing strategic dialogue with the firm’s priority clients, according to the memo from Cathal Deasy and Taylor Wright, global co-heads of investment banking. A Barclays spokesperson confirmed the memo. 

Barclays has advised on some high-profile transactions this year, including the takeover of Equitrans Midstream Corp. by US natural gas producer EQT Corp. and the $13 billion take-private of talent agency Endeavor Group Holdings Inc. by private equity group Silver Lake Management.

Posternack joined Barclays in 2008 and was named global head of M&A in 2014. 

--With assistance from Crystal Tse.

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