Ten years on from the global financial crisis caused by a crash in bonds tied to...
LONDON - Ten years on from the global financial crisis caused by a crash in bonds tied to U.S. home loans, Britain’s Barclays is betting a return to that market can bring in bumper revenues to fortify its investment bank.
Having pared back its securitization business in recent years amid a wider restructuring, Barclays’ head of global markets Stephen Dainton said the time was right for the British bank to re-enter the market in force. Now head of securitized products for Barclays, Eichel has assembled a team of 144 bankers and traders who package up and sell everything from commercial and residential home loans to more esoteric assets such as media and sports franchise rights.
The biggest attempt by a British bank to tap into the U.S. securitization market since that crisis is already showing signs of progress.
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