Barclays has appointed Duncan Beattie and Duncan Connellan as managing director of investment banking in Australia.

Both will be based in Sydney and report to Richard Satchwell, country CEO and head of investment banking, Australia. The goal is to further expand Barclays’ investment banking franchise in Australia.

Beattie will lead the overall delivery of international capital markets financial for clients in Australia and also New Zealand. Connellan, however, will try to expand the coverage of financial sponsors, infrastructure funds and corporate clients. These will deliver leveraged finance, acquisition finance and structured financing solutions.

Satchwell said: “Duncan Beattie and Duncan Connellan are outstanding additions to our Investment Banking team. Their deep industry relationships and extensive transactional experience will generate tremendous value for our corporate and institutional clients in Australia and New Zealand.

“After obtaining our foreign authorised deposit-taking institution (ADI) license last month, I’m really excited to have Mr. Beattie and Mr. Connellan joining the bank, which further strengthens our commitment to our growth initiatives in Australia and more broadly in Asia.”

Beattie was most recently JPMorgan’s head of financial institutions group and has been co-head of debt capital markets for 16 years. Before that, he spent 10 years with Nomura in London.

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Connellan is rejoining Barclays from Mitsubishi UFJ Financial Group where he was head of strategic and acquisition finance, Australia and New Zealand.

In December 2021, Barclays secured a licence from the Australian Prudential Regulation Authority (APRA) to operate as a foreign authorised deposit-taking institution (ADI) in the country.

As part of the move, Australia Branch is expected to go-live as a foreign bank branch locally in April 2022.

Barclays said it considers Australia as an important part of its growth plans in the region. Setting up a local branch is part of the plan to grow its Australian client by offering its services to more corporate and institutional clients.