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MOVES-Barclays promotes Dean and Osborne to top EMEA banking job

Reuters - UK Focus

By Gareth Gore

LONDON, April 21 (IFR) - Barclays (LSE: BARC.L - news) has promoted Sam Dean and Crispin Osborne to be co-heads of banking for the Europe, Middle East and Africa region, filling a role that has been vacant for a year after its previous holder Richard Taylor took on global oversight of the business, according to a memo seen by IFR.

The appointments are a major boost for the two. Dean only returned to Barclays in January after taking a year-long sabbatical, rejoining the UK bank as chairman of global finance and risk solutions. Before his break, he was global head of equity capital markets. He joined Barclays in 2009.

Osborne joined the firm in 2010 as head of banking for the Central and Eastern Europe, Middle East and Africa region. In 2012, he became head of banking for Continental Europe and Africa.

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Taylor was named as EMEA investment banking head back in November 2012, and last April was promoted to become co-head of banking globally alongside Joe McGrath. The two report to investment bank boss Tom King, who held the EMEA investment banking head role before Taylor.

Both Dean and Osborne will work closely with the other regional banking heads - John Miller in the Americas, and Reid Marsh and Patrick Kwan in Asia-Pacific.

"We are highly focused on driving returns across our entire Banking franchise," the memo said. "We have made good progress in EMEA, but we need to take our business further forward. Deepening our client relationships in EMEA at the most senior levels, with additional intensity and focus, and ensuring our capital is fully aligned with our priority clients will be major objectives for the new leadership team."

Meanwhile, Makram Azar has been named chairman of banking EMEA. He joined Barclays in 2010, and was most recently chairman of all of the firm's businesses and activities in the Middle East and North Africa region. He will remain chairman of Barclays MENA in addition to his new expanded responsibilities. (Reporting by Gareth Gore; Editing by Christopher Spink)