Been seeing tons of Barclays departures on LinkedIn - looks like a lot of the really senior people went to Jefferies or Moelis (some even to UBS). Was wondering how have deal-flows at the firm been affected this quarter? Surely they’re no longer in top-5 anymore right? Anyone know which groups have been particularly affected?
Also, Financial Times published a pretty interesting piece on Barclays today. (Link: Can Barclays move beyond scandal and stagnation? https://on.ft.com/3QYIgGa) Any possibility Barclays will be shrinking their investment bank?
Why did so many people leave barc at the senior levels though?
Seems like leadership issues and bad bonuses driving this
Bonuses have been shit for years. The brain drain started before Covid
They didn't want to tell their parents they were gay
Likely the board is looking to shrink the investment bank.. good talent is flying off in anticipation of the same.
Quote from the ft article
“The advisory and capital markets unit - reeling from a series of high-profile defections earlier this year after replacing its leadership — also saw income decline 16 per cent to £1.5n over the same period.
The third quarter was especially disappointing.
Revenue fell 30 per cent to £375mn, hitting the lowest level since at least 2015, including just £80mn from M&A advice.”
Clearly circling down the drain
As a former Barclays coverage analyst who left for another firm last month, I can tell you that the brain drain is very real. It’s not just at the senior level, it’s also at the junior level.
Would rlly recommend anyone who’s considering to join Barclays to pls think twice.
Non dolorem labore velit sed non deleniti nulla. Eveniet aperiam molestiae rerum ipsam totam cumque culpa. Ut ullam temporibus tempora dicta sunt.
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...