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

by Mike Robinson

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© Reuters. Barclays Bank branch seen in London, Britain on February 23, 2022. REUTERS/Peter Nicholls

(Reuters) – Barclays According to a memo Reuters obtained on Thursday, LON appointed Ihsan Essaid its co-head of the global mergers & Acquisitions business.

The memo states that Essaid has worked for about 30 years in the investment banking sector. He primarily works within the telecoms and media industries.

Essaid was previously with Credit Suisse (SIX:) group, will lead the M&A team with Gary Posternack.

Barclays spokesmen confirmed the contents.

Barclay’s global M&A business had a record year in 2021, exceeding its prior all-time-high revenues by more than 25%, the memo said.

Global M&A volumes topped $5 trillion for the first time ever in 2021, comfortably eclipsing the previous record of $4.55 trillion set in 2007, according to Dealogic data. According to Dealogic data, investment bankers anticipate that the dealmaking frenzy will continue into next year.

Barclays reported last month that its investment bank made 5.8 billion pounds in profit. This was due to an increase of 34% in its fees for advising on mergers, fundraising, and other deals.

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