The Middle East will be an important growth area in coming years for investment banks, including Barclays, as local wealth funds put their oil dollars to work buying European assets, a senior executive at the British bank said.
"If you look globally, the upside is in emerging markets and the Middle East is a key component of that," Makram Azar, global vice-chairman for investment banking at Barclays, told Reuters. "We are committed to the Middle East. I do not see why our strategy would change," Azar said in an interview.
Last week's appointment of retail banker Antony Jenkins as Barclays group chief executive could see a shift from riskier investment banking, analysts said, as the lender tries to recover from an interest rate-rigging scandal that brought down former CEO Bob Diamond.
No comments:
Post a Comment