Barclays has announced that Jay Caldwell will join the bank as global head of its aerospace and defense team.
Mr. Caldwell is arriving from RBC Capital Markets, where he worked on deals including Triumph Group‘s $1.4 billion acquisition of Vought Aircraft Industries, and the sale of Northrop Grumman‘s TASC consulting unit to Kohlberg Kravis Roberts and General Atlantic for $1.65 billion.
Before working on Wall Street, Mr. Caldwell was a carrier fighter pilot in the U.S. Navy, where he flew missions out of the Red Sea during Operation Desert Shield.
The industrials sector, which includes aerospace and defense, is a rare bright spot in an lackadaisical mergers market, and represents the second largest fee pool globally after telecommunications, media and technology. Barclays has done more industrial deals by volume than any other bank this year.
