The investment banker scrum at Bob Diamond's Barclays Capital continues, with the latest recruit, Tom King from Citigroup, recently confirmed as co-head of corporate finance and head of investment banking in Europe, Middle East and Africa.

Unsurprisingly, the building of BarCap's European M&A and equity businesses has pushed up costs, especially in the third quarter, as confirmed yesterday by Chris Lucas , Barclays' numbers man.