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MOVES-Barclays hires semiconductor banker from Bank of America-source

Reuters - UK Focus

By Liana B. Baker

May 11 (Reuters) - Barclays Plc (LSE: BARC.L - news) has hired Mark Garcia, a semiconductor specialist from Bank of America, in a move to help build out its team in one of the most active sectors of technology banking.

Garcia, a managing director, starts Monday in Barclays' Menlo Park, California office. He was at Bank of America for nine years.

The source did not want to speak on the record because the matter is not public yet. A Barclays spokesman declined to comment.

Most recently, Garcia helped advise a group of Chinese investors who took OmniVision Technologies Inc (NasdaqGS: OVTI - news) , a maker of chips for smartphone and tablet cameras, private for about $1.9 billion in cash.

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He also advised German chipmaker Infineon Technologies (Other OTC: IFNNF - news) which agreed to buy California-based International Rectifier last August for about $3 billion in cash.

Earlier in his career, he worked on the sale of GlobalFoundries to Mubadala Group.

Barclays already has a strong practice in semiconductors, which is one of the busiest areas in technology dealmaking lately. It represented Silicon Image earlier this year on its sale to Lattice Semiconductor Corp.

It also has a track record working with Avago Technologies Limited, representing the company on its acquisition of Emulex Corp this year and larger deals such as Avago's $6.6 billion acquisition of LSI in 2014.

The tech, media and telecom group at Barclays has been undergoing changes in recent months. In March it said it had brought on former Blackstone Group LP advisory banker Peter Cohen as its global head of media banking. It also lost a senior software banker, George Patterson, in April. (Reporting by Liana B. Baker; Editing by Alan Crosby)