Barclays’ asset finance business bounces back

Barclays is preparing to go toe-to-toe with market leading US firms with a revived asset finance operation in EMEA — and it is adding commercial real estate capabilities as well. The US investment banks have dominated much of this business in recent years, though more recently, some of the other European banks have been more aggressive — using high counterparty ratings and low funding costs to muscle in on the pure play investment bank territory. According to three rival bankers, these firms reap rewards from having maintained their ABCP conduits, an approach Barclays has also taken, with conduit vehicles Sheffield and Salisbury still active.