Oil fell and the yen weakened against the dollar while energy-company shares led the Standard & Poor’s 500 Index lower after Iran and world powers reached an initial deal on limits to the nation’s nuclear program.
Rory Gilbert, the managing director and head of high net worth business in the U.K. and Ireland at Barclays Wealth, has been appointed as private banking head for the Middle East and North Africa, replacing Soha Nashaat.
The volume of initial public offerings in Europe jumped more than sixfold in the third quarter as investors lured by cheaper valuations and strengthening economies put their money to work in the region.
Investors who are pouring money into Treasuries instead of higher-yielding assets amid signs the U.S. may enter a recession and as interest rates hover at about record lows are making a mistake, according to Barclays Wealth.
Barclays Wealth, which manages $231 billion in client assets, reduced its estimate for this year’s gain in the Standard & Poor’s 500 Index because the chance of a slowdown in economic growth has increased.
Barclays Wealth said it named Anne Grim as head of global client services, a new role. Grim joins the Barclays unit from Wells Fargo Financial, where she was an executive vice president, Barclays said in an e-mailed statement.