Ex-Barclays Chief Launches P.E. Biz, Hires J.C. Flowers Exec.

Jan 29 2014 | 10:40am ET

Former Barclays CEO Robert Diamond's new venture is launching a private-equity business.

Atlas Merchant Capital, set up by Diamond last year, has hired J.C. Flowers & Co.'s David Schamis as a founding partner to lead the effort. Schamis called the opportunity "too compelling to pass up."

"Bob is one of the world's most accomplished bankers and his track record in building and selling Barclays Global Investors and in buying Lehman during the financial crisis—two of Barclays' most successful transactions ever—is legendary," Schamis said.

Diamond was forced out of Barclays in 2012 amidst the rate-rigging scandal at the bank. Late last year, Atlas teamed with Ugandan billionaire Ashish Thakkar to launch a vehicle investing in African banks.

Schamis had been with J.C. Flowers since 2000.

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