Roger Jenkins, Barclays' top dealmaker, with a personal wealth of $200 million, said on Friday he is leaving the British bank to set up a new corporate finance advisory firm targeting sovereign wealth investors, Reuters reported. The departure of Jenkins, one of Barclays' highest paid bankers and a key figure in its fundraising with Middle East investors last year, was not a surprise after being widely reported last month. His new advisory business will have offices in the Middle East, Europe and California. Jenkins said on Friday the new firm will provide corporate finance advice to clients and look for alternative investment opportunities. It will focus on sovereign wealth investors and help raise and invest money, as well as handle existing portfolios. He will continue to work with Barclays in the future, advising on its business in the Middle East and supporting the development of the bank's sovereign wealth client group. "Now is a good time for a change," he said in a statement. Jenkins, 53, joined Barclays as a graduate trainee in 1978 and made his name devising complex structures to help individuals and companies pay less tax. He was named head of investment banking and wealth management business in the Middle East in April 2008 and helped arrange a 7 billion pound ($11.6 billion) fundraising for Barclays months later, saving the bank from taking rescue funds from the UK taxpayer. Jenkins is widely reported to have earned 40 million pounds last year and is worth 120 million pounds, according to the Sunday Times 2009 Rich List. Barclays does not comment on his pay as he did not sit on the bank's board.
