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Barclays prepares to re-enter US mortgage-backed securities market

Barclays PLC is preparing to re-enter the U.S. securitization market, a decade after U.S. sub-prime mortgage-backed securities helped fuel the global financial crisis, Reuters reported.

The British lender's head of securitized products, Scott Eichel, is leading the charge and has assembled a team of over 140 bankers and traders. The division will package U.S. home loans, commercial loans and other assets, and sell them on to investors in tranches.

"This was a £500 million business for Barclays in terms of revenues last year, when global peers are making £1 billion a year, so for us to get to £500 million additional revenue over three years or £100 million to £150 million a year should be achievable at measured pace," Eichel said.