Barclays Capital, the global investment banking arm of Barclays Group, said Tuesday that it hired Steve Vinson of Daiwa Securities Inc. to head both credit and market risk management.
Mr. Vinson joins the world's 15th-largest banking company as a managing director and a member of the Barclays Capital management committee. He will report to Robert E. Diamond Jr., chief executive of Barclays Capital, and to Alan Brown, director of risk management for Barclays Group.
Mr. Vinson was in charge of global credit and market risk for all of Daiwa's non-Japanese businesses. He will be relocating to London, where he is expected to begin work this month.
He began his career in industry, first as a senior financial analyst with Alabama Power Co. and then as assistant treasurer for AT&T. He also worked for Citicorp, Chase Manhattan Bank Corp., and Credit Lyonnais.
Mr. Diamond said the banking unit hired Mr. Vinson because his experience reached back to the establishment of credit and market risk management as a separate discipline in U.S. money-center banks during the 1980s.