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Sat 15 Aug 2009 08:34 PM

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Barclays dealmaker to set-up ME focused advisory firm

Advisory firm being set-up by Roger Jenkins to target sovereign wealth investors.

Roger Jenkins, one of the top dealmakers at Barclays, has left the UK bank to set up a new corporate finance advisory firm targeting sovereign wealth investors.Jenkins said his new advisory business will have offices in the Middle East, Europe and California and will provide corporate finance advice to clients and look for alternative investment opportunities.

It will target sovereign wealth investors in particular and help raise/invest money, as well as handle existing portfolios.

"Now is a good time for a change," Jenkins said in a statement.

Jenkins, 53, - and who is widely reported to have earned £40 million last year - joined Barclays as a graduate trainee in 1978, later making his name devising complex structures to help individuals and companies pay less tax.

He was named head of the investment banking and wealth management business in the Middle East in April 2008 and helped arrange a $7 billion ($11.6 billion) fundraising for Barclays months later, saving the bank from having to take rescue funds from the UK taxpayer.

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