Barclays appoints Rafael Abati as Co-Head of Energy Transition EMEA

A critical element of Barclays' Investment Banking strategy and net zero ambition is support for clients as they navigate the transition to a low-carbon economy. As part of Barclays' continued investment in the Energy Transition sector, Rafael Abati has been appointed Co-Head of the Energy Transition Group (ETG) in EMEA, alongside Marie Freier.

Rafael will report into Mike Cormier, the Global Head of the Energy Transition Group, and Tim Main, Head of Investment Banking EMEA. With Marie, Rafael will focus on deepening client relationships to help drive Barclays' M&A and ECM share and maintain the bank's top five position in this sector.

"Rafael's deal experience in the power and energy sectors complements Marie's expertise in ClimateTech investment banking and sustainability research ? of which both are material assets to Barclays as we seek to provide the capital and strategic advice for clients," says Mike Cormier, Global Head of the Energy Transition Group. "Our team is now strongly positioned globally, and particularly in Europe, to support electrification and decarbonization initiatives for our clients, especially in hard to abate sectors."

Rafael joins with almost 20 years' experience from UBS and Credit Suisse where he was Head of Energy & Infrastructure M&A for Europe and Head of M&A for Iberia. He has deep connections with power and energy clients and a strong origination and execution track record, having advised on a significant number of strategic transactions for clients including, EDP, Iberdrola, IFM, EQT, CVC, Naturgy, Enel and Repsol.

"At the core of our Investment Banking strategy is a commitment to consistently focus, align, and deliver against our priority clients with a solutions-driven mindset. Rafael and Marie will make a formidable leadership team for our EMEA ETG franchise, and I'm excited about the ability to advance our leadership position in differentiated client coverage," said Cathal Deasy, Co-Head of Investment Banking.

Barclays was one of the first global banks to announce a 2050 net-zero ambition and is committed to reducing its financed emissions in support of this. The bank has a target to facilitate $1 trillion of Sustainable and Transition Financing by the end of 2030, encompassing the long-term Green, Social, Transition and broader Sustainable Financing requirements of clients.

Notes to Editors

• In 2020, Barclays announced its 2050 net zero ambition and subsequently set 2025 emissions targets for the Energy and Power sectors.
• Barclays has set additional 2030 targets that integrate the IEA's Net Zero 2050 1.5°C-aligned temperature rise scenario in five of the highest emitting sectors in its financing portfolio ? Energy, Power, Cement, Steel and Automotive Manufacturing. Further details can be found here
• The International Energy Agency (IEA) estimates that the amount of investment required to support the transition is $4.5 trillion a year.

About Barclays

Our vision is to be the UK-centred leader in global finance. We are a diversified bank with comprehensive UK consumer, corporate and wealth and private banking franchises, a leading investment bank and a strong, specialist US consumer bank. Through these five divisions, we are working together for a better financial future for our customers, clients and communities. For further information about Barclays, please visit our website home.barclays