Barclays has won best provider of interest rate-linked structured products for the fourth year in a row. According to Jeffrey Juan, managing director, head of EFS sales, non-Japan Asia, “Passion for your client, product and market” continues to be the overwhelming characteristic of the team as the bank continues to put its clients at the forefront. Barclays continues to win business by focusing on innovation, high level of service, secondary market liquidity and offering a wide range of products.2015 was a year that still tested all market participants as the US Federal Reserve kept interest rates at record lows leading to low volumes for the rates-linked structured products.
“Most market participants, including us, expected rates to rise this year and the market proved otherwise,” admitted Juan, who along with many private banking clients was expecting an interest rate hike.
A low interest rate environment combined with low volatility and tighter credit spreads posed challenges to structured product providers like Barclays. Juan stressed that understanding client needs is of paramount importance: “We have great trading and structuring business partners to help drive this business. We believe that innovation in current markets is about understanding local regulations, efficient execution and setting exemplary service standards across the entire life cycle of a product. Our dialogue with clients is ongoing – pre and post trade; our ability to react to changes whether our risk or our client’s risk makes us stand out.”
Barclays responded to the demands of the rapidly evolving regulatory landscape by creating internal standards for product governance and increased transparency and disclosures. This in-house framework includes a senior product approval committee that determines the suitability of every product and its distribution.
Barclays reputation for reliability and its commitment to client service mean that it is now distributing interest rate-linked products to almost 30 banks, more than nearly any other issuer. With interest rates widely expected to rise in 2016, these relationships ensure that Barclays is well positioned to take advantage of higher volumes.
“We can keep the momentum…everyone continues to work hard with great passion,” Juan said.
“If I was the client, I would expect to be treated the same.”
This dedication and rigorous focus on execution has ensured Barclays’ win as 2015’s Best Provider of Interest Rate-linked Structured Products.