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WHEN BARCLAYS CAPITAL hired a new German sales team from CSFB earlier this year, the first that BarCap’s existing team got to hear of it was when Tom Kalaris, head of distribution and research and chief executive, Americas, got all the staff to gather around on BarCap’s Frankfurt trading floor. He told them that changes were being made – that there was going to be a greater emphasis on structured products, and that a new team from CSFB was being brought in.
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