What’s happening at Barclays?
Struggling to formulate an opinion on where it's heading over the next 5-10 years.
On the one hand, big Jes has beat return targets and stabilised the IB - general sentiment seems to be that it’s the only Euro BB that can realistically compete for market share.
But he’s also been slammed for his relationship with UK regs and share price has largely flatlined (although Barclays plc is bigger than just its IB).
What are people’s (sensible) thoughts on this?
Ike
For Euro banks, share price mostly ignores IB performance, people by banks for their retail presence not IB/S&T. And super low rates + increasing regulation just make every bank struggle here. Just look at HSBC cutting 35k jobs (15% of the workforce) - it's basically the new DB.
My buddy at Barclays told me they’ve been axing people... one of whom is an MD on their exotic trading desk and have been there since the Lehman days... is it getting that bad?
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