London - Barclays PLC (“Barclays”) today announces the appointment of John Vitalo as Chief Executive Officer ("CEO") of Investment Banking and Investment Management (“IBIM”) for the Middle East. This new post will be in addition to his existing roles in Johannesburg as CEO of Absa Capital and his local responsibility in South Africa for Absa Wealth.
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.
"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," said Roger Jenkins, Executive Chairman of Barclays Investment Banking and Investment Management, Middle East.
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.
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Notes to Editors:
Barclays Group is a major global financial services provider engaged in retail and commercial banking, credit cards, investment banking, wealth management and investment management services with an extensive international presence in Europe, the Americas, Africa and Asia. With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs over 155,000 people. Barclays moves, lends, invests and protects money for over 48 million customers and clients worldwide.
About Investment Banking and Investment Management (IBIM)
IBIM comprises three businesses of Barclays PLC, namely:
Barclays Capital is the investment banking division of Barclays Bank PLC. With a distinctive business model, Barclays Capital provides large corporate, government and institutional clients with a full spectrum of solutions to their strategic advisory, financing and risk management needs. Barclays Capital has offices around the world, employs 20,000 people and has the global reach, advisory services and distribution power to meet the needs of issuers and investors worldwide.
Barclays Global Investors is one of the world's largest asset managers and a leading global provider of investment management products and services with more than 3,000 institutional clients and approximately $1.5 trillion of assets under management as of December 31, 2008. BGI transformed the investment industry by creating the first index strategy in 1971 and the first quantitative active strategy in 1979. BGI is the global product leader in exchange traded funds (iShares® exchange traded funds) with 360 funds for institutions and individuals globally.
Barclays Wealth is a leading global wealth manager, and the UK’s largest, with total client assets of £145bn, as at 31 December 2008. With offices in 25 countries, Barclays Wealth serves affluent, high net worth and intermediary clients worldwide, providing international and private banking, investment management, fiduciary services, and brokerage.
About Absa Capital
Absa Capital, a division of Absa Bank Limited (Absa) and affiliated to Barclays Capital, is a leading South African investment bank with global reach, offering clients financing, risk management and advisory solutions in a wide range of currencies and structures across the globe.