Rothschild ME executive to join BarCap
Dubai, April 5, 2010
Barclays Capital has poached the co-head of Rothschild's investment banking division in the Middle East and North Africa to head the UK bank's regional financial institutions coverage, sources said on Monday.
Michael Helou, 37, set up Rothschild's Dubai office in 2006.
At Barclays he will be driving the so-called FIG coverage, which includes mergers and acquisitions advice, as well as capital markets coverage for financial institutions. Helou is expected to start in his new role in the middle of May, one source close to the matter said.
Following its purchase of the US business of Lehman Brothers, Barclays has completed a number of high profile hires in an effort to become a leading full-service investment bank.
In September 2009, Barcap named Rothschild veteran Stefano Marsaglia as chairman of the bank's FIG division.
During his 10-year career at Rothschild, Helou advised on the still-to-be completed merger between troubled Islamic mortgage companies Tamweel and Amlak, as well as the sale of Dubai Holding's stake in Malaysia's Bank Islam.
BarCap declined to comment.-Reuters