• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe

Barclays Increases Its Holdings In Australia's Barrenjoey Capital

Haiden Holmes

May 18, 2022 10:05

B2.png


Barclays (LON:BARC) Plc announced on Wednesday that it has nearly quadrupled its shareholding in Barrenjoey Capital Partners to aid in the expansion of the Australian boutique investment bank's operations.


By targeting clients who value specialist expertise, investment banking boutiques in Australia are attempting to escape the restricted bureaucracy and declining bonuses of larger banks.


Barclays, the third-largest British bank by market value, boosted its stake in Barrenjoey from 9.9 percent to 18.2 percent by investing A$75 million ($52.72 million) in new capital. Barrenjoey was founded by former UBS bankers and sponsored by Barclays and Magellan.


Barclays stated in a statement that Australia is an integral element of its strategic growth objectives in the Asia Pacific region.


In the second half of the year, the additional capital will be essential to support the growth of Barrenjoey's markets business, which includes the establishment of fixed income derivatives and equities financing platforms, according to Barclays.