LONDON, April 7 (IFR) - Barclays has appointed the leadership team for its new unit responsible for improving returns and managing capital and financial resources in its investment bank and other parts of its international division.
The bank last month set up Financial Resource Management (FiRM) to help with structuring and financing activity across Barclays International, including managing capital, leverage, risk assets, funding and tax optimisation.
It is being headed by Art Mbanefo, who was the bank’s head of markets in Europe and Asia.
Mbanefo said his leadership team will consist of Nick Brand, Tim Hartzell, Al Hodge, Andrew Kellner, David Lohuis, Raviv Shtaingos, David Simpson, Merritt Thomas, Esra Turk, Sarah Wang, Syed Raza, and Simon Fawcett, according to the memo sent on Friday and seen by IFR.
Hartzell, Hodge, Kellner, Lohuis, Wang and Raza will continue to manage teams within their existing business lines.
FiRM was set up by Tim Throsby, who began in January as head of Barclays International.
Mbanefo said in the memo the unit’s aim is to have one area to “dynamically manage and allocate financial resources” to businesses within Barclays International.
It will work with Treasury and manage businesses including asset financing, asset management, corporate and investment banking capital management, counterparty risk trading, equity financing, fixed income financing and client securitisation, the memo said. (Reporting by Steve Slater)