Equity issuance is returning at scale, but this cycle looks different from 2021. Today's wave is being driven by high-quality supply, strategic demand for capital, and stronger market absorption capacity, according to John Kolz, Global Head of Equity Capital Markets and his team. "Investors remain constructive, yet they're placing a higher premium on profitability, scale, execution and aftermarket performance." "We're seeing an increasing number of companies approach equity capital from a position of strength rather than necessity." John Kolz is Global Head of Equity Capital Markets at Barclays. With over 25 years of experience advising issuers and investors on equity financings and strategic transactions, John joined Barclays in 2025 from RBC Capital Markets where he served as Co-Head of Equity Capital Markets. Prior, he served as Co-Head of Americas ECM Origination at Credit Suisse, following senior leadership positions at Goldman Sachs, including Co-Head of Equity Syndicate.​