Per DM

Per DM

May 31, 2011 11:45 ET

Barclays Bank to follow Per DM Group into Spain?

LONDON, UNITED KINGDOM--(Marketwire - May 31, 2011) - The management of Per DM Group, one of the UK's leading outsource sales organisations, has shown interest in a recent article in the Sunday Times reported by the Barclays Bank : "Examining plans to swoop on one of Spain's troubled regional banks in a multimillion pound rescue deal."

"It is encouraging to note that other major British companies like ourselves see that the Spanish economy is not entirely on the floor and has great potential," said Jesse Young CEO of Per DM.

It is reported that Bob Diamond, Barclays' chief executive, flew to Madrid recently to meet Spain's prime minister Jose Rodriguez Zapatero. There are indications that Diamond asked the prime minister if the Spanish government would be willing to support Barclays with guarantees if it 'volunteered' to take over one of the struggling cajas.

These cajas account for about half of the country's banking system, at one time lending over €500 billion to Spain's property developers. When the property sector turned sour the banks required government support. Since then there has been a wave of consolidation reducing the number of cajas from 45 to 17. It is clear that the remaining banks need more capital and the Spanish finance minister, Elena Salgado, has ordered them to raise an extra €20 billion. Per DM believe that much of that will have to come from a state bailout.

Spain is a mature economy but in eurozone terms it still presents considerable concerns. Per DM Group has opened several offices recently and found that there is great appetite for their services. "In a shrinking economy competition for new customers becomes even greater," says Jesse Young. "We understand the trend and calculated that major Spanish brands will be looking to different strategies to retain customers and increase sales."

With Barclays considering a foray in to the Iberian peninsula, it will not be long before other UK businesses will wake up to the opportunities that financial adjustment presents in economies and likewise invest. "With a young, willing and hungry workforce Spain has proven to be a great success for us," said the Per DM CEO. "For those who seek to work hard the rewards in outsource sales are considerable and we have certainly seen our customers benefit from our innovative sales strategies."

Barclays of course already has a sizeable presence in Spain however buying a caja does present considerable risk. Santander has demonstrated that it is possible to make a return on banking in Spain.

"With the unemployment rate running currently at 20% we recognised that there would be an appetite for our business model in Spain," said the Per DM Group CEO. "Certainly to date our business continues to grow in a market place that still has a considerable consumer appetite."

Per DM Contact Marketing Limited was established in August 2005 in response to the UK markets' need for a field sales organisation capable of delivering high quality results with consistency and reliability.

The company was formed by a group of former UK financial services executives and senior executives from the leading North American field sales agency and since 2005 we have continually recruited leading figures from the B2C and B2B business arena.

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