Steven Markovich, the co-head of software investment banking at Barclays, has reportedly resigned from the firm to join US-based Centerview Partners.

According to sources cited by Reuters, Markovich’s global co-head of software investment banking Ben Freeland will now be the sole head.

Markovich, who served at Barclays for 14 years and oversaw information management firm OpenText's $6 billion acquisition of software company Micro Focus earlier this year, is the latest senior departure from Barclays at a time when the UK bank is struggling to retain talent.

The new role of Markovich at Centerview is yet to be revealed, with the bank and the exec yet to comment

Since the January appointment of former Credit Suisse investment banking and capital markets co-head Cathal Deasy and former Morgan Stanley global capital markets co-head Taylor Wright as global co-heads of investment banking, more than two dozen senior US investment bankers have left Barclays.

Reuters noted that senior departures include Laurence Braham, Richard Hardegree, Ozzie Ramos, Jason Williams, Neil Meyer and Ed Wehle.

The appointment of a pair of newcomers to such a senior position over long-serving Barclays bankers who had been seen as possible successors has demoralised many at the bank. The situation is thought to be so dire – and the outflow of talent so severe – that Barclays chief exec C.S. ‘Venkat’ Venkatakrishnan held a town hall last week in an effort to boost morale.

Barclays told the newswire that it expected changes in the investment banking team’s leadership would lead to “natural attrition” and that the bank is “confident in our strategy, will continue to invest in talent, and we are committed to supporting and helping clients navigate today’s economic environment.”

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