Monday, 3 September 2012

CORRECTED-INTERVIEW-Barclays sees Middle East driving investment bank - Yahoo! News Maktoob

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.

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