RBC Capital Markets has hired James Skilton from Barclays to lead its insurance coverage team, according to a memo seen by Financial News. Skilton, who spent over a decade at Barclays, will join RBC as managing director and head of insurance within the financial institutions group. He will be based in London and report to Andrew Watling, head of financial institutions for Europe, the Middle East, and Africa.
Skilton's appointment comes as RBC Capital Markets expands its investment banking presence in Europe. The bank has been actively hiring senior bankers to bolster its advisory capabilities across sectors. Skilton brings extensive experience in insurance investment banking, having advised on mergers, acquisitions, and capital raising for insurers and reinsurers.
At Barclays, Skilton led insurance coverage and worked on several high-profile transactions, including the acquisition of RSA Insurance by a consortium led by Intact Financial and Tryg. He also advised on the IPO of Hiscox and the sale of esure to Bain Capital.
RBC Capital Markets has been strengthening its financial institutions group in Europe, adding senior hires in sectors such as fintech and asset management. The bank's focus on insurance reflects the growing demand for advisory services in a sector undergoing consolidation and regulatory change.
A spokesperson for RBC Capital Markets confirmed the hire, saying, "We are delighted to welcome James to the team. His deep industry knowledge and transaction experience will be invaluable as we continue to grow our insurance practice."
Skilton's departure from Barclays is part of a broader reshuffle in the investment banking division. Barclays has seen several senior bankers leave in recent months, including its head of financial institutions for Europe, who joined UBS.
