People
Markets
WORLD BANK vice
president and treasurer
Arunma Oteh will leave
the organisation on
December 1, according
to sources, to join
Oxford University as an
academic scholar. Oteh
joined the World Bank
in 2015 and has been
responsible for
managing its
US$200bn debtportfolio, as well as an
asset portfolio of
almost US$200bn for
the World Bank Group
and 65 external clients,
including central
banks, pension funds
and sovereign wealth
funds. Oteh previously
spent five years in
charge of the
regulation of Nigeria’s
capital markets.Dutch asset
management firm
ROBECO appointed
Mitchelle Zhou to lead
its commercial
activities in China.
Zhou will initially be
based in Hong Kong
before relocating to
Shanghai next year to
oversee the firm’s
wholly foreign-owned
enterprise in China.She will report to
Graham Elliot,
Robeco’s head of
distribution Asia. Zhou
was most recently
sales lead for
BlackRock’s China
institutional business
and has also worked at
ABN AMRO and BNP
Paribas.0LEASEûCONTACTûUSûIFûYOUûHAVEûINFORMATIONûABOUTûJOBûMOVES [email protected]
Evercore said its deal count increased
ûGLOBALLY ûDRIVENûBYûAûûYEAR
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year increase in Europe and a 15%
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“Relative to last year, our revenue from
European clients is multiple times higher,
on track for our best year there in the
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Philip Scipio
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to that he was head of credit capital markets
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Dees, who heads the technology, media and
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Dees’ promotion came about a week after
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Sumeet Chatterjee
Barclays redeems costly pref shares
BARCLAYSûPLANSûTOûREDEEMûEXPENSIVEû53û
RETAILûPREFERENCEûSHARESûFROMûNEXTûYEARûTOû
reduce its funding costs by £165m a year,
ANDûISûALSOûREDEEMINGûADDITIONALû4IERûû
securities as it cleans up its funding
STRUCTURE
Barclays said last week it had been given
APPROVALûTOûREDEEMû53BNûOFûNON
cumulative callable dollar preference
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don’t do much for our capital base,”
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the cost savings would add about 1p to
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crisis, which pay 14% interest and can beCALLEDûINûMID
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behave economically rationally on that,”
-ORZARIAûSAID
Analysts said the redemptions were a
good sign of the bank’s and the UK
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approved this too – critical to remember
ahead of a December stress test result,
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capital drawdowns,” said UBS analyst Jason
.APIERTRADING AHEAD
Barclays announced the redemptions as it
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by strong trading revenues in its
INVESTMENTûBANK
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currency and commodities revenues were
aM ûUPûûFROMûAûYEARûEARLIER ûANDû
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Both were well ahead of the performance
of the big US banks, where on average
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)TSûADVISORYûANDûUNDERWRITINGûBUSINESSû
DIDûLESSûWELLû4HEûBANKûSAIDûDEBTûCAPITALû
markets activity had been strong, but
EQUITYûCAPITALûMARKETSûWASûWEAKûANDû-!û
fees suffered in the third quarter from the
TIMINGûOFûWHENûDEALSûCLOSEDû)TûSAIDû
October had started well, with advisory
ROLESûONûTHREEûOFûTHEûBIGGESTû-!ûDEALSû
CONCLUDED
Steve Slater”It’s profitable for us to do
this because they pay a very
expensive coupon, but they
don’t do much for our capital
base”