Zev Garell Leaves JPMorgan for Barclays Leveraged Finance Team

Zev Garell, a 23-year veteran of JPMorgan Chase, has left the bank to join Barclays as Head of Leveraged Finance EMEA. Garell was managing director in leveraged finance origination at JPMorgan. Barclays has also suffered from high-profile departures, including Kartik Subramanian-Nair, who left for Goldman Sachs. JPMorgan has formed a new unit focused on bespoke financing in public and private markets, including its direct-lending effort.

In a significant move within the financial sector, Zev Garell, a 23-year veteran at JPMorgan Chase & Co., has left the bank to join Barclays Plc as Head of Leveraged Finance EMEA [2]. Garell, who was most recently managing director in leveraged finance origination at JPMorgan, will take on a pivotal role at Barclays, stepping into a position vacated by Tim Kerry, who joined Jefferies Financial Group Inc. earlier this year.

This transition comes amidst a period of intense competition for top talent in the financial services industry, as acquisition financing activity begins to pick up after years of muted activity. Banks are gearing up to arrange more deals that promise lucrative fees in investment banking.

Barclays has itself experienced high-profile departures, including Kartik Subramanian-Nair, who left for Goldman Sachs Group Inc.'s capital markets unit in London, and Stephen Smith, who joined John Aylward’s credit hedge fund Sona in 2023 [2]. These departures underscore the competitive nature of the financial services sector, where top talent is highly sought after.

Meanwhile, JPMorgan Chase & Co. has formed a new unit focused on bespoke financing in public and private markets, including its direct-lending effort. The new unit was established in July and will house JPMorgan’s direct-lending effort, for which the bank set aside an additional $50 billion earlier this year after deploying more than $10 billion across 100 deals since 2021 [1]. This strategic move positions JPMorgan to capitalize on the growing demand for tailored financing solutions.

The departure of Garell and the formation of the new unit reflect the dynamic nature of the financial services industry, where companies continuously adapt to evolving market conditions and competition.

References:
[1] https://www.marketbeat.com/instant-alerts/filing-ally-financial-inc-acquires-shares-of-23000-jpmorgan-chase-co-jpm-2025-08-24/
[2] https://www.bloomberg.com/news/articles/2025-08-28/garell-exits-jpmorgan-after-23-years-for-leveraged-finance-rival