OREANDA-NEWS. March 24, 2011. Barclays has announced that it will focus its efforts in Russia on the further development of its investment banking businesses, reported the press-centre of Barclays.

At its annual results announcement in London, the bank announced its intention to sell full service Barclays Bank Russia (OOOBR) and instead concentrate on serving its corporate, financial institution and government clients in Russia through Barclays Capital.

Barclays Capital’s broker dealer business will continue to operate in Russia under its existing OOOBC entity.  Barclays Group plans to obtain a banking license to provide Barclays Capital clients with wider range of financial services in Russia.
 
Barclays Capital has significantly expanded its Russian investment banking franchise through OOO Barclays Capital, its Russian broker-dealer subsidiary, and its London head office.  Barclays Capital offers a full-range of investment banking products to its Russian client base, including debt and equity capital markets, mergers and acquisitions advisory, strategic financing, risk management products such as foreign exchange products and interest rates derivatives, and sovereign and corporate bond trading.  Barclays Capital will launch its Russian domestic equities sales and trading platform in 2011.
 
Bob Foresman, President of Barclays Capital, Russia, said: "The strongest opportunity for Barclays in Russia lies in expanding our investment banking business focusing on corporate clients, financial institutions and Government entities.  We have a long-standing heritage of serving Russian clients from our operations in Moscow.  Last year we helped our Russian clients raise over \\$14 billion of capital, making us the leading bookrunner for domestic issuers of international bonds in Russia as well as advising clients on M&A and equity capital markets.”
 
Nikolai Tsekhomsky, Chief Executive of Barclays Bank Russia said:  “Under Barclays ownership the bank has expanded its client offering in both Corporate and Retail businesses and has transformed its operations up to the best international standards. Through the sale process, we will continue to focus on delivering the excellent customer service and offering advanced product range our clients have come to expect.”

Full details of Barclays PLC’s 2010 Financial Results are available at www.barclays.com/investor-relations.
 
About Barclays Capital in Russia
Barclays Capital offers a full-range of investment banking products to its Russian client base, including debt and equity capital markets, mergers and acquisitions advisory, strategic financing, risk management products, and local markets trading.

-   Barclays Capital was the #1 bookrunner of international bonds for Russian issuers in 2010, with deals raising nearly USD 14 billion including the first sovereign Russian Federation Eurobond since 1998.

-   Barclays Capital was a bookrunner on last December’s USD 1.5 billion convertible bond for Lukoil, the largest-ever Russian convertible bond and the largest in Europe in 2010.

-   The bank also recently acted as underwriter on its first domestic rouble bond, a 15 bln Rouble placement for Evraz steel company.

-   Barclays Capital ranked second in trading volume for Russian GDRs on the London Stock Exchange in 2010 and is one of the leading banks in trading Rouble credit, rates, and FX as well as in risk management products.