Awards for Excellence 2013: Best Debt house
Whether in peripherals, corporates, the US or FIG, the bank has held its own this year despite management turbulence.
When Euromoney named Barclays its best global debt house this time last year it was just 48 hours after chief executive Bob Diamond had resigned. The adverse publicity the bank has been subject to over the subsequent 12 months is a severe – and unusual – test of its resilience and the regard in which it is held by clients. That Barclays has put in another top-three performance this year, playing a pivotal role in the reopening of the peripheral markets in Europe, innovating on the structuring front and gaining share in some markets, is testament to this. It has therefore been named our best global debt house again. "Clients moved closer to us this year," says Mark Bamford, head of global fixed-income syndicate at Barclays in New York. "We did more business in the third and fourth quarters of 2012 than we did in the first two quarters. We were an easy house not to mandate, but the fact that clients continued to deal with us was very telling."