Barclays is planning to axe thousands of jobs in a radical shakeup of its investment banking division and may replace the European and US heads of the unit, the Financial Times reported, citing sources.
The job cuts are expected t
Investment banking fees in the Middle East grew 20 per cent last year, data compiled by Thomson Reuters showed, as capital markets activity continued to recover gradually from the global financial crisis.
Total fees rose to $722 m
Debt issuance in the Middle East reached $26 billion during the first half of the year, a 40 per cent increase over the same period last year, a report said.
Middle Eastern investment banking fees reached $356.6 million while equity iss
Middle Eastern investment banking fees reached $536.1 million during 2012, a 19 per cent increase over 2011, a report said.
Equity capital markets issuance reached $9.4 billion during 2012 while total debt issuance reached $38.6 b
Falling profits in retail and investment banking left investors worried whether Credit Agricole is on the mend after the French bank took $4.6 billion of writedowns to try to draw a line under ill-fated deals.
France's No 3 ba
Barclays announced a shake up at its investment banking business on Thursday aimed at streamlining the business in the face of a more challenging outlook for the industry.
Rich Ricci, head of corporate and investment banking, told
Investment banking faces a shakeout and only large commercial players and boutiques offering outstanding service will survive and prosper, the head of emerging markets banking specialist Renaissance Group said.
Investment banks are undergo
Emirates NBD, a leading financial services group, has appointed Mohammad Kamran Wajid as new CEO of Emirates NBD Capital and Emirates Financial Services.
In his new role, Kamran will drive the transformation of Emirates NBD Group's Investm
Bank of America Corp's investment banking head for Mena and Turkey, Waleed El-Amir, has resigned, a source familiar with the matter said on Thursday, the latest top banker to leave the US lender.
El-Amir, a veteran Merrill Lynch bank
Barclays said its key investment bank arm ended last year with its worst quarter for three years as the euro zone debt crisis hit bond trading activity, dragging the British bank's annual profit down on the year before.