Barclays names new head of European equity research as MiFID II looms

A Barclays sign is seen outside a branch of the bank in London, Britain, February 23, 2017. REUTERS/Stefan Wermuth

LONDON (Reuters) - Barclays BARC.L has named former Morgan Stanley MS.N analyst Rupert Jones as its head of European equity research, the British bank said on Monday.

Jones was involved in briefing Morgan Stanley’s customers about the impact of a major regulatory overhaul of the securities trading industry that goes into effect next January, Barclays said in the statement.

The new rules, known as the Markets in Financial Instruments Directive, or MiFID II, aim to make European securities markets more transparent.

Under the new rules investment banks must charge fund managers an explicit fee for research rather than bundling the cost into trading commissions charged to clients, as at present.

“As we head into MiFID II, Research is all the more central to the success of our overall European equities business,” Barclays said in the statement.

Reporting by Lawrence White; editing by Jason Neely