Barclays Capital is building up its London-based European high-yield business and is planning to hire traders and salespeople. The move comes in response to an increase in "fallen angel" credits, cross-over names and distressed debt, especially in the cable and telecom sectors, says a Barclays insider. Most recently, the firm hired a senior high-yield trader, Steve James, who joined from Schroder Salomon Smith Barney in London. James declined to comment.
Barclays Builds Euro HY Effort