BarCap poaches veteran banker from Rothschild

BARCLAYS Capital has poached the co-head of Rothschild’s investment banking division in the Middle East and North Africa to head up its financial institutions group (FIG) coverage, sources said yesterday.

Michael Helou, 37, set up Rothschild’s Dubai office in 2006. In his new role, expected to begin in the middle of May, he will be driving FIG coverage, including mergers and acquisitions advice and capital markets coverage for financial institutions.

The hire comes after BarCap named Rothschild veteran Stefano Marsaglia as chairman of its FIG division in September 2009.

During his 10-year career at Rothschild, Helou advised on the still-to-be completed merger between troubled Islamic mortgage companies Tamweel and Amlak, as well as the sale of Dubai Holding’s stake in Malaysia’s Bank Islam.

BarCap declined to comment.