Barclays Capital is moving to rebuild a global equities unit that it abandoned about a decade ago.
The British bank is acquiring staff laid off from other firms to boost the position of the equities platform it bought in the wake of the collapse of Lehman Brothers earlier this year.
“We’ve been looking for the right opportunity to enter the cash equity space in an efficient way for many years,” Dixit Joshi, Barclays Capital’s head of Europe and Asia equities, told The Financial Times. “The acquisition of Lehman’s US business has given it to us in one fell swoop.”