Barclays Capital: Big risks remain in FICC

Peter Lee
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Behind Jerry del Missier, Rich Ricci and Bob Diamond, the three men most renowned for building Barclays Capital, there is another cadre of long-standing members of the same executive team with lesser public profiles. French national Eric Bommensath, head of FICC and head of EMEA trading, joined Barclays Capital from Bankers Trust in the dark days of 1997 as head of derivatives. Now he wrestles with an uncertain outlook for the businesses he heads. He echoes Jerry del Missier in expressing surprise at the extra capacity rival banks rebuilt in 2009 and 2010 after the long period of innovation and growth in FICC had come to a brutal stop in 2007 and 2008.