Barclays' Middle East expansion is focused on its corporate bank

Barclays’ plans to hire 100 people in the Middle East this year are slowing taking shape and the focus currently appears to be on expanding its corporate bank.

With investment banking deal activity in the doldrums, it was always unlikely that the bank’s bullish statement on expanding its team in the region would focus on this division. However, the latest hire suggests corporate banking is a good place to be.

In May, it named Alexander Harrison as head of debt finance, UAE and GCC, and has now appointed Oliver Baillie as head of cash management, UAE and GCC.

Again, the senior appointment looks set to be followed by recruitment lower down the ranks. Rezwan Mirza, managing director and head of corporate coverage said that the bank would “increase the number of qualified experts servicing our clients” within its cash management division.