Barclays Capital may shift resources

Barclays Capital may shift resources
Comment E-mail Print Share
First Published: Fri, Sep 14 2007. 01 24 AM IST
Updated: Fri, Sep 14 2007. 01 24 AM IST
Mumbai: Barclays Capital, the investment banking arm of UK-based Barclays Bank Plc., is still seeing good deal flows in India and Asia despite credit market turmoil, but globally it may shift some resources around to weather turbulence, senior executives said.
The firm hopes to expand business in the US and Asia, in India, Japan, China, Vietnam, Indonesia, Cambodia, Sri Lanka and Mongolia, vice-chairman David Wright said.
While Barclays did not see “tremors or dislocation” in closing recent financing deals in India, borrowers looking to tap the Asian bond market were waiting to see if corporate bond spreads stabilized, Raju Shukla, Barclays Capital’s head of investment banking for India, added.
But the Asian syndicated loan market had not been hit severely and overall the deal pipeline remained healthy.
Barclays has suffered in recent weeks from concerns that its i-banking unit may be more exposed than rivals to complex debt vehicles. The lender said this week that Barclays Capital had traded profitably in August despite market turmoil.
Wright said the past two months had been “very tough”, however that would not prompt Barclays Capital to turn its back on its business model.
feedback@livemint.com
Comment E-mail Print Share
First Published: Fri, Sep 14 2007. 01 24 AM IST