© Reuters. A department of Barclays Bank is noticed, in London, Britain, February 23, 2022. REUTERS/Peter Nicholls

(Reuters) – Barclays (LON:) appointed Ihsan Essaid as co-head of its international mergers and acquisitions company, according to a memo witnessed by Reuters on Thursday.

Essaid is a veteran of about three many years in the investment decision banking sector, has principally labored throughout the media and telecoms sectors, in accordance the memo.

Essaid, who was beforehand with the Credit rating Suisse (Six:) group, will guide the M&A group with Gary Posternack.

A Barclays spokesman verified the contents of the memo.

Barclay’s global M&A enterprise experienced a report 12 months in 2021, exceeding its prior all-time-substantial revenues by a lot more than 25%, the memo mentioned.

Worldwide M&A volumes topped $5 trillion for the initial time ever in 2021, comfortably eclipsing the previous report of $4.55 trillion established in 2007, in accordance to Dealogic knowledge. Investment bankers hope the dealmaking frenzy to continue on perfectly into next 12 months.

Previous thirty day period, Barclays claimed its financial investment bank shipped its strongest ever financial gain of 5.8 billion lbs, thanks to a 34% enhance in costs from advising on promotions this sort of as mergers and fundraising.

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