Barclays returns to Australia following two-year hiatus

By Addie Thomes

UK bank Barclays has once again set up in Australia, a little over two years after abruptly exiting the country.

The office, based in Sydney, will focus on providing a core product offering including advisory and capital markets to local corporate and institutional clients.

Barclays closed down operations in 2016 as part of a regionwide retreat which saw 1,200 jobs lost across Australia, South Korea, Taiwan, Malaysia, Indonesia, Thailand and the Philippines.

See also:

Tim Throsby, President, Barclays International, and CEO, Corporate and Investment Bank, commented: “Re-establishing our on-the-ground presence in Australia, the third largest financial market in Asia Pacific, is an important part of our strategy to grow our franchise.

“We are committed to devoting financial resources and providing solutions to our Australian clients while supporting the growth and improvement of our global franchise.”

Paul Early and Richard Satchwell, two Barclays veterans, will lead the Australia team. The bank already serves Australian clients and other organisations doing business in the country.  

Early joined Barclays in Sydney in 2007 to lead the Mining and Metals sector coverage for Australia. In 2012, he relocated to Hong Kong to manage the team covering natural resources clients across Asia Pacific.

Satchwell joined Barclays in London in 2005 focusing on acquisition finance in Europe.

In 2007, he relocated to Sydney and held leadership roles across the Australian financing and risk management businesses, as well as having responsibility for the broader Asian acquisition and leverage finance teams and industry and advisory teams in Australia.

He was most recently part of the Europe and Middle East leveraged finance team based in London.

Share

Featured Articles

Meet the female CEOs driving growth for Starbucks China

COO Molly Liu to join Belinda Wong as co-CEO Starbucks China, as the company builds on its skyrocketing growth with plans to open 2,500 stores by 2025

The world’s biggest chipmaker bets big on renewable energy

Despite the struggle faced by chipmakers to reduce emissions, Taiwan Semiconductor Manufacturing is accelerating renewable energy adoption by 10 years

Uniqlo shakes up leadership amid global retail ambitions

Fast Retailing, the group behind Japan’s Uniqlo, overtakes Gap with soaring profits and is now eyeing accelerated global expansion with executive shakeup

What is the ESG strategy of Chinese automaker Geely Holding?

Sustainability

Top 10 best-performing CEOs in Singapore

Leadership & Strategy

Top 10 women behind India’s most successful tech startups

Leadership & Strategy