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Banking

Barclays appoints French government official

Barclays has appointed a former chief macroeconomic policy and European affairs strategist in the French government to lead its European economics team, in a move that comes at a time when political events are increasingly driving financial markets.

Philippe Gudin de Vallerin, who was a chief adviser to European and global policymakers on core Europe debt negotiations, will succeed Julian Callow in the role as chief European economist.

 
 Philippe Gudin de Vallerin

Callow, who held the role since 2003, has been appointed chief international economist for the bank.


De Vallerin was most recently the director for macroeconomic policies and European affairs at the directorate general of the treasury in the French ministry of economy, industry and employment.


He previously worked for Goldman Sachs in Paris as co-director of economics research and head of fixed-income sales and trading. He began his career at the French ministry of economy and finance in 1991 as an economist.


De Vallerin will be based in London and responsible for leading Barclays’ European economics team in advising the bank and its clients on European macroeconomic issues.


The appointment comes at time when market volatility is increasingly being driven by the seeming inability of political leaders to collectively resolve the eurozone crisis, a problem that is prolonging uncertainty and provoking wild swings in sentiment almost daily.


For investment banks and institutional investors, enhancing their ability to read and navigate the political process at the heart of the eurozone crisis has, in turn, gained increasing importance.


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