With Jefferies Toronto announcing they poached pretty much all of Barclays Toronto's senior staff (5 MDs including Head of Barclays Canada, the Head of M&A, and the head of Diversified), is Barclays Toronto done for? What happens to the juniors?
I dont see how they recover from this, especially given all the other departures across Barclays' US IBD franchise and the negative reaction to Cathal Deasy's appointment to co-head of IBD.
| +125 | If Tik Tok is forced to sell, what banks do you think would be involved in the deal? | 59 | 1d | |
| +85 | Updated LA Banking Scene (2024) | 61 | 18h | |
| +42 | Ranking banks that went under | 26 | 54m | |
| +39 | Burnt Out M&A ASO | 22 | 11h | |
| +37 | Relevance of A-Levels for U.K. London recruiting | 25 | 18h | |
| +36 | Intern Ettiquette | 9 | 10m | |
| +33 | A strategy for SA applicants late to the game like myself | 17 | 19h | |
| +27 | Series 79 Help / Tips to Pass The First Attempt | 11 | 3d | |
| +23 | What are hours like at BBs in London? | 47 | 2d | |
| +23 | 2024 new grads who didnt get return offers update | 12 | 2s |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Bump
Short term chaos but unlikely to have any long term existential impact as you suggest. Barclays has been in Canada for 100 years, one of our prime ministers worked there. They are not going to shut it down just because 5 bankers left in 2023.
There will be a flood of (both currently employed and recently unemployed) senior folks at the Canadian banks chomping at the bit to waltz into coverage at one of the (historically) strongest global franchises in Canada. Look what happened last time - old leader leaves and they bring Bruce (and Michael W) over from RBC. The virtuous cycle will continue…
What’s less well appreciated is how JEF goes from literally 0 to one of the strongest non-Big 6 players in the county overnight
What’s funny is that Barclays just announced they are replacing Bruce R with Geoff Belsher, who was head of Barclays/Lehman Canada in 2009 before Bruce took over.
I think Geoff is a downgrade from Bruce because he’s been out of the game for so long (since 2015?). It will also be difficult to replace the bench production of the 4 other MDs lost, but we shall see who they hire
Did Paul Knight also leave Barclays?
There was another Globe article that published. Besides losing the CEO who apparently was a big relationship guy, seems like they lost group heads of coverage (DIG, FIG), M&A, ECM, and research analysts to Jefferies. Their Calgary Energy head is retiring as well. It looks like they only have Mining coverage left, and maybe more juniors and mid levels will join Jeff. Going to be a tough rebuild. Quite stunning to see CS and Barclays Canada fading in relevance so suddenly.
aren't many CS Toronto ppl still here? I still see MDs ad Ds showing up at CS Toronto on Linkedin
No, CS Toronto is a shell of its former self which is sad because it used to be a great franchise
I believe they are down to one IBD MD (who is relatively junior) and one Director, maybe 1-2 VPs. The rest left or were let go over the past 6 months and probably haven't updated their linkedin yet…
I heard they hired Sage Kelly to lead coverage, should be an interesting few years for the Blue Eagle!
https://www.vanityfair.com/news/2016/03/banker-sage-kelly-returns-to-wa…
This guy? In Toronto?
On another note - anyone has info on what comp will be for Associates at Jefferies? Got a recruiter inbound.
Also curious about interview process.
Will appreciate any insights.
Anyone heard back from recruiters re: Analyst/Associate roles at Jefferies in TO? After reading the globe article for the third time I waltzed over to LinkedIn to see if they'd hired anyone beyond the 5 mentioned in the article. Sure enough, it appears one former INVESTMENT BANKER from Left Lane Associates has joined the Jefferies team. Surely this must be a joke.
Jefferies Canada on their way to the top of the league tables in Brampton trucking roll-ups
Got a msg from a recruiter two weeks ago. I responded, followed up but they ghosted me lmao
Which recruiter do they use?
offers were sent last night
Yeah I didn't get one
do you know if this includes new grad ‘24?
Hey was wondering if you could add color on how long the turn around was from final interview to offers?
Omnis deleniti odit et possimus culpa ab. Et sit accusantium sunt maxime ducimus accusamus maxime iure. Non autem non excepturi et doloribus quos dolorem. Laboriosam in sequi similique sed at. Incidunt illum et harum omnis eius. Autem exercitationem a mollitia et earum earum.
Dolorum cumque et ipsam voluptatibus ut rerum. Quae enim molestiae ipsum sint quia exercitationem quia. Maiores eaque est qui dicta.
Adipisci est fuga quia molestiae. Est ut itaque sunt sit. Quia harum similique tempora ab iste quia.
Fugit et cumque assumenda autem sed. Laboriosam quas fugit tenetur atque ea ut. Saepe dolore numquam necessitatibus eligendi provident necessitatibus dolorem.
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...
Qui pariatur et quia pariatur expedita doloribus quo voluptatum. Assumenda vero vel aperiam molestias exercitationem. Autem placeat rerum expedita voluptatibus. Natus autem consequuntur aut consectetur nihil libero.
Deleniti illo repudiandae impedit est atque quidem. Qui dignissimos ut veritatis molestiae aut omnis dolores. Odit numquam sed veniam quia animi perferendis. Rem pariatur aperiam tempora illum doloremque ipsa. Quaerat cupiditate sunt ipsam sit deserunt iste. Et ullam quia numquam suscipit illum consequatur.
Unde rerum omnis sapiente amet velit. In commodi et eos. Aut sunt aut praesentium.
Aut voluptas doloremque nostrum autem dolorem et sit. Temporibus nihil quod commodi dolor voluptas voluptates perferendis. Cumque maxime aut labore ducimus voluptatem voluptatem vel sunt.