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Barclays Adding Heads in Asia, Europe

Barclays Capital says it's still adding headcount primarily in Asia. The investment bank reportedly plans to add as many as 1,000 slots worldwide, even after hiring 2,000 bankers and other professionals in Asia and Europe through the first half of this year.

Continuing staff expansion will be "tilted towards Asia" and will center around equities, advisory and emerging markets, Barclays President Bob Diamond told Bloomberg News. However, the story also notes Barclays cut 3,000 positions earlier, so the planned hiring binge will only restore worldwide headcount to where it stood at the end of 2008. Those job cuts came in North America, after Barclays acquired Lehman Brothers' North American operations last September.

Diamond says the Lehman purchase is paying off and it's unlikely Barclays would acquire another investment banking firm.

The London-based institution has hired some senior European M&A bankers away from rivals in recent months. They include Mark Warham from Morgan Stanley and Matthew Ponsonby from Citigroup, who Barclays named in May as co-heads of European M&A.

Barclays is the world's biggest underwriter of international bond sales and ranks sixth in global takeover advisory for the year to date, according to Bloomberg.

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AUTHORJon Jacobs Insider Comment

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