Barclays MDs leaving
Anyone have any background on the MDs leaving Barclays. I saw a lot of tech bankers are going to UBS. Was wondering if any other groups were affected.
Trending Content - Investment Banking Forum
| +273 | Earliest you can get fired | 58 | 1d |
| +258 | Investment Banking is Divine | 40 | 1d |
| +218 | Another $115bn Mega deal for these banks. Congrats! | 45 | 1d |
| +215 | US 2027 SA IB worried about background check | 53 | 1d |
| +206 | Analyst: Why is UBS IB doing worse than peers?, UBS CFO: No Comment | 41 | 2d |
| +133 | Is UBS really that bad? | 39 | 2h |
| +40 | Is Houston SA 28 recruiting already over? | 34 | 20h |
| +27 | FIG Pigeonholes you - is it true? | 8 | 1d |
| +27 | 2026-27 IB Energy Top Banks | 8 | 1d |
| +25 | How do you manage nerves in IB technical interviews? | 7 | 4h |
Career Resources
Bump
Very strange
Bump
Comment from a gud friend …apparently even good MDs got zilch bonus ….TMT and C&R are essentially dead groups… most of senior coverage talent has left…. …will take many (atleast 5) years to recover..
Are they recruiting new MDs?
used to be at Barclays CRG a few years ago. had some really good people on the team but too many bad actors that i'm glad to hear it's fucking dead hahahahahaha
I worked with the team a few years ago - you had the absolute worst and most useless associates
Who knows… who cares…it’s a train wreck to avoid..
People on the street are saying it's "Assclays" instead of "Barclays"…
Not public yet but more MD’s leaving as of this week. I dont know what’s going on though
Do you know what groups?
What groups / office?
Which groups?
Tech departures are mainly a function of group leadership picking this former CS guy over Marco Valla as global co-head of IB. Marco was around since the Lehman days and had a good reputation (Barc tech people, feel free to shout if I'm wrong) and obviously decided to leave when he was passed over for the role, bringing with him most of TMT seniors plus some M&A people.
Since then it has become quite a snowball effect, with more people across groups (tech, sponsors, M&A, more) leaving for various banks (Jefferies hired amongst others the previous global co-head John Miller). Everyone is quite surprised about group leadership picking this CS banker for the role as he is not seen as experienced enough nor joining from a better platform than Barclays. More departures would not be a surprise, as certain groups are becoming a dumpster fire (e.g. I was told FIG has become terrible following group leadership changes).
Left the firm at the beginning of the year so while I'm still in contact with many people there, take this with a pinch of salt.
The other co-head of IB in Taylor Wright isn't particularly well liked either and a fellow outsider as former MS ECM banker. Perception is two outsiders and product group heads won out over Macro who was a Lehman/Barclays guy and coverage banker. Barclays had historically been run by coverage groups more than product groups for internal politics, which probably played a part as well.
Most of the legacy Lehman/Barclays people are among the recent departures across groups - TMT, CRG, Industrials and Sponsors have all been hit hard recently.
Pay at Barclays was never the best and there was the ever-present issue of a poor performing stock... all they had to retain senior talent was culture before led by the legacy Lehman bankers. Those people are largely gone now.
What’s your take on going to working there as either a new or lateral ANA or ASO
Can you say a bit more about the strong affinity for Marco? Is the expectation that Marco would be more loyal to the ex-Lehman folks than the outsiders?
Sounds like he threw a fit and left
Del
What’s going on at UBS and how did they just kill 3 birds with one stone? Is UBS management planning the death of wall st? Buy Credit Suisse and fire all their bankers so CS is dead. Then turn to Barclays and steal all their bankers, so that BarCap is dead. Then fire all your own bankers to make rooms for the new Barclays bankers, so even ex-UBS is dead.
UBS died so Barcap could live. Shocking 1 year later how well Barcap is doing and how bad UBS is doing
.
Really have to hand it to the new Barclays leadership team for not skipping a beat
Are Barclays MDs planning to bring their VPs and junior team as well? Or just themselves moving?
https://www.bloomberg.com/news/articles/2023-06-10/barclays-warns-forme…
Title says it all… though I assume it happens in certain isolated cases
Warning Barcap bankers didn’t work
Did Barclays had any layoffs this year?
Update on their tech team? Heard there was a round?
Bump
Bump
Similique labore eum velit vel et. Dolor quo ipsum officiis officia aspernatur expedita illo sit. Cupiditate tenetur sunt necessitatibus qui.
Laborum sit mollitia atque ullam aut eligendi omnis minus. Minima quia natus iste porro quo velit excepturi. Praesentium dolorum est nihil ut expedita. Autem et expedita ipsa a beatae.
Amet maiores similique sit facere sint enim. Hic qui eos fugiat animi tempora.
Et voluptates sint amet eveniet mollitia. Repudiandae repellat corrupti est laborum. Ad minima unde et ducimus dolore repudiandae.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Delectus maxime modi sed molestias deleniti et facilis. Dolor necessitatibus non accusantium non nobis omnis. Distinctio dolorum excepturi aut doloribus. Accusantium et minima sunt.
Cum debitis voluptatem sapiente quia deserunt harum et. Fuga et laudantium animi numquam ut temporibus. Nobis et natus a et voluptas. Quisquam ipsa cumque velit ducimus quos quia. Placeat error ea qui. Possimus minima dolores illum nihil. Enim officia quia voluptas incidunt aut enim.
Dolorem soluta consequatur illo occaecati reprehenderit. In laboriosam ducimus possimus omnis velit optio. Dolor mollitia id ipsum est eos ut distinctio. Quam odit excepturi facilis cupiditate rerum dolore voluptatem. Et molestias et architecto et quos quos.