18 May Barrenjoey strengthens strategic partnership with Barclays, increases regulatory capital
We are pleased to announce that our global strategic partner and foundation investor, Barclays, is increasing its shareholding in Barrenjoey from 9.9% to 18.2% by way of subscribing for A$75m of new capital. The full proceeds will be utilised to further increase regulatory capital to over A$250m, up from A$150m at the start of the 2022 Financial Year.
The increased regulatory capital will support accelerated growth in Barrenjoey’s Markets business, including the go live of Fixed Income Derivative and Equity Financing in the next half.
We are also pleased to announce that we are expanding our offering by providing Australian clients with access to Barclays’ leading Credit Trading and Securitisation capabilities. This is in addition to Barrenjoey already accessing Barclays’ industry leading global distribution network across Equities and Fixed Income; global best-in-class research; and cross-border advisory and global sector expertise.
Barrenjoey’s CEO, Brian Benari said: “Our strategic partnership with Barclays has been instrumental to our early success, leveraging their global investment banking and securities franchises and balance sheet for the benefit of our clients.
Given the rapid growth of our Markets business and the upcoming launch of our Fixed Income Derivative and Equity Financing operations, we are delighted to make further equity available to Barclays. This will importantly strengthen our strategic partnership and provide additional regulatory capital for Barrenjoey.”
Barclays Global Head of the Corporate and Investment Bank & President of Barclays Bank PLC, Paul Compton, said: “We are delighted to have the opportunity to increase our shareholding with Barrenjoey. Since our foundation investment in September 2020, Barrenjoey management has delivered on their plans and we have a strong working relationship across our respective platforms. Providing global solutions and products to the Australian client base is at the core of our strategic partnership and this investment will only strengthen it further.”
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