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In a move to strengthen its financing operations in the Asia-Pacific, Barclays Plc has welcomed Abhay Kumar Sinha, who previously served at Deutsche Bank AG’s investment bank. Sinha had led special situations financing for Deutsche Bank in the Asia-Pacific and India. This strategic hire is part of Barclays’ broader growth strategy in which the bank is bolstering its local sourcing, underwriting, and risk management capabilities.
This decision comes after Mani Joseph’s exit from his role managing distressed debt and special situations debt trading at Barclays. C.S. Venkatakrishnan, Barclays Asia’s CEO, emphasized the bank’s focus on wholesale banking and selective private banking in the region.
Barclays has been making significant hires in special situations structured credit and private lending businesses to enhance its operations. These moves are seen as an effort to fill the void left by Joseph’s departure and to solidify the bank’s position in the region.
Meanwhile, Deutsche Bank is not sitting idle. The bank is creating revenue-enhancing roles and collaborating with a search firm to hire more staff for financing roles in the region. This suggests a competitive landscape for talent acquisition between these financial giants in the Asia Pacific region.
InvestingPro Insights
Drawing on InvestingPro’s real-time data and tips, a closer look at Barclays Plc (BARC) reveals some noteworthy aspects. The bank has consistently raised its dividend for three consecutive years, suggesting a stable financial position. Moreover, it is trading at a low Price / Book multiple and a low P/E ratio relative to near-term earnings growth, indicating that the stock may be undervalued.
According to InvestingPro data, as of Q3 2023, Barclays had a market capitalization of $25.4 billion and a P/E ratio of 3.92. Its revenue for the last twelve months stood at $28.98 billion, marking a growth of 0.55%. Additionally, the bank’s operating income was $9.66 billion.
It’s noteworthy that Barclays has been a profitable entity over the past year. This, coupled with the bank’s strategic hiring and growth initiatives, could provide potential opportunities for investors. For more detailed insights and tips, consider exploring InvestingPro’s product, which includes numerous additional tips for both BARC and other companies.
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