Barclays Capital shortlists three

Barclays Capital Group, the new investment banking division of Barclays, has begun a pitch for its pounds 2 million international relaunch campaign.

Barclays Capital Group, the new investment banking division of

Barclays, has begun a pitch for its pounds 2 million international

relaunch campaign.



Barclays Capital emerged this October from the ashes of Barclays’

business bank, BZW, which is being dismantled. BZW’s brokerage

activities and mergers and acquisition consulting services will be sold

off, while business finance and exchange activities will be consolidated

into Barclays Capital.



Three agencies have been shortlisted to pitch for the business through

the Advertising Agency Register - BZW’s incumbent agency, Dewe Rogerson,

Barclays Bank’s agency, J. Walter Thompson, and Young & Rubicam. Pitches

will take place next week.



The pitch is being led by Cara Barry, Barclays Capital’s corporate

communications executive. Advertising is likely to run in international

financial titles, such as the Economist.



Peter Baillie, the Barclays Capital director of communications, said:

’We are talking to three agencies about what role advertising might play

in establishing new business. We are looking at what advertising might

do for us.



We have been renamed as Barclays Capital because the symbolic support of

the Barclays name and its strength and recognition internationally is

important to us.’



Barclays is expecting to spend about pounds 50 million over the next two

years to beef up Barclays Capital. The move is part of an attempt to

speed its progress towards the top of the investment banking ladder.



Martin Taylor, Barclays chief executive, said: ’The dynamics of the

global investment banking market are changing fundamentally. We believe

strongly that the best strategy is to concentrate our efforts and

investment on those businesses where we have the greatest competitive

advantage and which fit most closely with, and capitalise on, the other

activities of the Barclays Group.’



Robert Diamond, the chief executive of Barclays’ markets business, will

become chief executive of Barclays Capital.