Barclays appoints Rafael Abati as Co-Head of Energy Transition EMEA
11 April 2024 - 8:07PM
Business Wire
A critical element of Barclays’ Investment Banking strategy and
net zero ambition is support for clients as they navigate the
transition to a low-carbon economy. As part of Barclays’ continued
investment in the Energy Transition sector, Rafael Abati has been
appointed Co-Head of the Energy Transition Group (ETG) in EMEA,
alongside Marie Freier.
Rafael will report into Mike Cormier, the Global Head of the
Energy Transition Group, and Tim Main, Head of Investment Banking
EMEA. With Marie, Rafael will focus on deepening client
relationships to help drive Barclays’ M&A and ECM share and
maintain the bank’s top five position in this sector.
“Rafael’s deal experience in the power and energy sectors
complements Marie’s expertise in ClimateTech investment banking and
sustainability research – of which both are material assets to
Barclays as we seek to provide the capital and strategic advice for
clients,” says Mike Cormier, Global Head of the Energy Transition
Group. “Our team is now strongly positioned globally, and
particularly in Europe, to support electrification and
decarbonization initiatives for our clients, especially in hard to
abate sectors.”
Rafael joins with almost 20 years’ experience from UBS and
Credit Suisse where he was Head of Energy & Infrastructure
M&A for Europe and Head of M&A for Iberia. He has deep
connections with power and energy clients and a strong origination
and execution track record, having advised on a significant number
of strategic transactions for clients including, EDP, Iberdrola,
IFM, EQT, CVC, Naturgy, Enel and Repsol.
“At the core of our Investment Banking strategy is a commitment
to consistently focus, align, and deliver against our priority
clients with a solutions-driven mindset. Rafael and Marie will make
a formidable leadership team for our EMEA ETG franchise, and I’m
excited about the ability to advance our leadership position in
differentiated client coverage,” said Cathal Deasy, Co-Head of
Investment Banking.
Barclays was one of the first global banks to announce a 2050
net-zero ambition and is committed to reducing its financed
emissions in support of this. The bank has a target to facilitate
$1 trillion of Sustainable and Transition Financing by the end of
2030, encompassing the long-term Green, Social, Transition and
broader Sustainable Financing requirements of clients.
Notes to Editors
- In 2020, Barclays announced its 2050 net zero ambition and
subsequently set 2025 emissions targets for the Energy and Power
sectors.
- Barclays has set additional 2030 targets that integrate the
IEA’s Net Zero 2050 1.5°C-aligned temperature rise scenario in five
of the highest emitting sectors in its financing portfolio –
Energy, Power, Cement, Steel and Automotive Manufacturing. Further
details can be found here
- The International Energy Agency (IEA) estimates that the amount
of investment required to support the transition is $4.5 trillion a
year.
About Barclays
Our vision is to be the UK-centred leader in global finance. We
are a diversified bank with comprehensive UK consumer, corporate
and wealth and private banking franchises, a leading investment
bank and a strong, specialist US consumer bank. Through these five
divisions, we are working together for a better financial future
for our customers, clients and communities. For further information
about Barclays, please visit our website home.barclays
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Press: Isabel Allanwood (UK) +447881 318 272
isabel.allanwood2@barclays.com
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