Barclays Capital Makes Senior Research Appointments

NEW YORK, NY (December 16, 2010) – Barclays Capital today announced two senior appointments in its award-winning research franchise. Luca Ricci joins Barclays Capital as a Managing Director and Head of International Economic Research, based in New York. Troy Davig joins as a Senior US Economist, also based in New York. Mr. Ricci will report to Piero Ghezzi, Head of Economics, Emerging Markets and FX Research. Mr. Davig will report to Dean Maki, Chief US Economist.

“We’re pleased to be adding two leading economists to our global research team,” said Mr. Ghezzi. “Insightful economic analysis is clearly important to our clients, who according to our recent Global Macro Survey expect financial markets in 2011 to be mostly driven by macroeconomic factors.”

Mr. Ricci will be responsible for the firm’s analysis of global and regional economic trends. Mr. Davig will focus on analysis of the US economy, including the effects of fiscal and monetary policy.

Prior to joining Barclays Capital, Mr. Ricci was the Deputy Division Chief in the Research Department of the International Monetary Fund (IMF), where he worked since 1996 in areas including the Research Department, African Department and Middle Eastern Department. At the IMF, he was involved in the development of new lending tools (such as the Flexible Credit Line), the creation of the internal exchange rate assessment methodology for advanced economies and emerging markets, and in shaping the policy debate on debt reduction for highly indebted countries. He was previously a Visiting Fellow at Harvard University and a Researcher at the University of Konstanz.

Prior to joining the firm, Mr. Davig was an Assistant Vice President and Economist at the Federal Reserve Bank of Kansas City, where he worked since 2005. Prior to joining the Federal Reserve Bank of Kansas City, Mr. Davig was an Assistant Professor at the College of William & Mary.

About Barclays Capital Research

Barclays Capital is committed to bringing our clients a best-in-class, global research franchise. The firm has a team of approximately 800 professionals covering every major research discipline, asset class and region. In 2010, Barclays Capital ranked #1 among Greenwich Quality Leaders for US Fixed Income Research Quality, #1 for Overall Trade Ideas, Sovereigns Research, and Supranational and Agencies Research in the Euromoney Fixed Income Research Poll, #1 for Fixed Income Research in the Finance Asia Fixed Income Research Poll, #1 for Bond Market Indices and Web-Based Tools in the Institutional Investor All-America Fixed Income Research Poll, was named Best Bank for Credit Research in the Credit Annual Americas Awards, and was named Commodities Research House of the Year in the EnergyRisk Asia Awards.

About Barclays Capital

Barclays Capital is the investment banking division of Barclays Bank PLC. With a distinctive business model, Barclays Capital provides large corporate, government and institutional clients with a full spectrum of solutions to their strategic advisory, financing and risk management needs. Barclays Capital has offices around the world, employs over 25,000 people and has the global reach, advisory services and distribution power to meet the needs of issuers and investors worldwide.

For further information about Barclays Capital, please visit our website www.barclayscapital.com.

Contact
Seth Martin
+1 (212) 412 7565
seth.martin@barclayscapital.com