MOVES-Barclays revamps FIG coverage following Appen departure

By Aimee Donnellan

LONDON, Oct 23 (IFR) - Barclays (LSE: BARC.L - news) is revamping its financial institutions group business for the second time in under two years, appointing Ben Davey as the sole head of financial institutions Europe, Middle East and Africa following the departure of Allen Appen earlier this month.

Davey had previously been co-head of FIG EMEA with Richard Boath, but under the new structure, Boath has been made chairman of FIG in the region and will be responsible for interactions with senior clients.

"We see a huge opportunity in the next 12 to 18 months to focus on balance sheet advisory and capital. Having this core, broad team will allow us to do that," said Davey.

In February 2013 Barclays combined FIG financing, advisory and liability management - and removed FIG debt capital markets from its equity sibling.

Under the latest structure, Appen's former responsibilities as head of EMEA FIG capital markets have been split into two roles, which will result in two promotions.

Peter Mason will step up to become head of FIG DCM for the EMEA region, while Peter Jurdjevic will now lead financing solutions for the bank, covering capital, balance sheet advisory and liability management for all FIG, corporate and public sector businesses. He will also oversee securitisation and asset-backed securitisation.

And lastly, Daniel Fairclough has been appointed head of UK banking coverage. (Reporting by Aimee Donnellan)