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In his new IBIM role, John will be responsible for building out IBIM's three businesses of Barclays Capital, Barclays Wealth and Barclays Global Investors in the region and report to Roger Jenkins, Executive Chairman of Barclays Investment Banking and Investment Management, Middle East.
The Middle East region offers substantial business opportunities for Barclays. Many of the largest sovereign funds are based in this region as well as high net worth individuals and leading world class companies. All these clients are looking for investment management, advisory, wealth creation, risk management and financing solutions which Barclays is in a unique position to provide.
Roger Jenkins, Executive Chairman of Barclays Investment Banking and Investment Management, Middle East, said:
"John has a proven track record of building businesses and deepening client relationships. His appointment will continue the growth of Barclays successful businesses in the Middle East for the benefit of our clients."
For his Africa (including South Africa) investment banking responsibilities as CEO of Absa Capital, John will continue to report to Maria Ramos, CEO, Absa Group and Benoit de Vitry, Head of Global Markets-Trading, Europe and Head of Commodities and Emerging Markets at Barclays Capital. He will also report to Maria Ramos and Tom Kalaris, CEO, Barclays Wealth, for Absa Wealth. John will split his time between Johannesburg and Dubai.
This appointment highlights further the importance of Africa and the Middle East to Barclays, emphasising the importance the firm places on growing its businesses in these regions. Absa Capital is one of the leading investment banks in sub-Saharan Africa and its performance will continue to be an ongoing priority for John and Barclays Capital. The build out of Absa Wealth in South Africa will also be John's priority.
"We are delighted John has been given additional responsibilities. This reflects the huge progress made by all the team at Absa Capital and the strength of its management team," said Maria Ramos, CEO, Absa Group.
In addition, Stephen van Coller has been appointed as Deputy CEO of Absa Capital, reporting to John. Stephen joined Absa Capital in September 2006 as its Head of Primary Markets and later added Co-Head of IBD to his responsibilities.
Posted by Siba Sami Ammari
