Barclays Sees Deutsche Bank Exit as Chance to Win Mexico Clients

  • Barclays sees opportunity in debt capital markets, equities
  • Barclays Mexico head Raul Martinez-Ostos speaks in interview

Barclays Plc sees opportunities to win Mexico business in areas including debt capital markets and investment banking as Deutsche Bank AG ends operations in Latin America’s second-largest economy, the bank’s Mexico chairman and chief executive officer Raul Martinez-Ostos said.

Barclays isn’t interested in acquiring businesses from Deutsche Bank and will instead focus on taking advantage of opportunities opened by the departure of its German rival, Martinez-Ostos said in an interview in Mexico City on Tuesday.

Deutsche Bank’s departure is “an opportunity because they were one of my big competitors,” Martinez-Ostos said in an interview in Mexico City. “For those businesses that I think have value, we’re not the bank that would be interested in buying them."

Barclays was Mexico’s seventh-biggest bond underwriter last year with involvement in $1.8 billion in debt placements, while Deutsche was eighth with $1.7 billion, according to data compiled by Bloomberg. On the equity side, Deutsche ranked seventh as it participated in placements worth $114 million in 2015, while Barclays wasn’t involved in a Mexican stock deal, the data show.

Deutsche Bank in October announced plans to close operations in 10 countries including Mexico, saying it will eliminate about 26,000 jobs worldwide over the next two years as part of an overhaul by Co-Chief Executive Officer John Cryan to simplify the lender and improve returns.

Renee Calabro, head of press and media relations for the Americas at Deutsche Bank, declined to comment. The bank has said it will continue to serve clients from regional hubs such as New York.

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