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Barclays names Ihsan Essaid co-head of global M&A

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Financial system3 hours within the past (Mar 10, 2022 05: 06PM ET)

© Reuters. A branch of Barclays Financial institution is seen, in London, Britain, February 23, 2022. REUTERS/Peter Nicholls

(Reuters) – Barclays (LON:) appointed Ihsan Essaid as co-head of its global mergers and acquisitions trade, in accordance to a memo seen by Reuters on Thursday.

Essaid is a outmoded of about three decades within the funding banking trade, has mostly worked across the media and telecoms sectors, in accordance the memo.

Essaid, who became beforehand with the Credit Suisse (SIX:) community, will lead the M&A crew with Gary Posternack.

A Barclays spokesman confirmed the contents of the memo.

Barclay’s global M&A trade had a file 12 months in 2021, exceeding its prior all-time-excessive revenues by greater than 25%, the memo said.

Global M&A volumes topped $5 trillion for the foremost time ever in 2021, comfortably eclipsing the old file of $4.55 trillion location in 2007, in accordance to Dealogic knowledge. Funding bankers ask the dealmaking frenzy to proceed effectively into next 12 months.

Final month, Barclays said its funding monetary institution delivered its strongest ever profit of 5.8 billion kilos, thanks to a 34% amplify in charges from advising on offers equivalent to mergers and fundraising.

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