Business
Why Barclays backed Barrenjoey – The Australian Financial Review
Barclays Plc is the largest investment bank outside of the US, but its presence in Asia is weak. It is now pinning its hopes of Asian expansion on a banking start-up on the other side of the world.
“We have been very actively seeking opportunities to accelerate our growth in Australia,” Compton says.
“We see Australia as a very attractive and a very important financial services market.
I thought it’s a great opportunity and a very clever way to enter the Australian market.
Paul Compton, President Barclays Bank, New York
“So, when we were approached by Magellan to consider becoming a part of Barrenjoey we thought it was an extremely interesting structure in that it enabled us to bring o…
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