Barclays Capital is scouting for new blood in Canada.
Currently, BarCap employs roughly 45 people in Toronto and 20 in Calgary. Now, the company means to bring on the following professionals, a spokesman told EFC News:
- Equity-focused sales and trading professionals
- Fixed-income sales and trading professionals, with emphasis on the equities side
- Equity research analysts in sectors beyond financial services, metals and mining, where BarCap already has an established presence;
"Over the past 18 months to two years, we've been building out our investment banking and equities businesses in Canada," says the spokesman, who asked not to be named. Last May, the company appointed former U.S. Ambassador of Canada to the United States Michael Wilson as chairman of Barclays Capital, Canada, and named former RBC executive Bruce Rothney as head of that division in Toronto.
Last month Michael Wilson, chairman of Barclays Capital, Canada, said he would seek to target more cross-border deals. "The clients are looking more outside Canada than they ever had before," he told Bloomberg. "Our sweet spot is going to be the cross-border activities."
Analysts are Key
And he cited the need to bring on more analysts:
"We don't have enough on the ground on the research side to support the sales and trading," he said. During 2010, BarCap was "quietly expanding," and those activities would be "noticeable as we go into 2011."
Besides offering investment bank services to corporate, government and institutional clients, Barclays Capital and also operates a commodities trading business in the Canada.