Thoughts on Barclays in 2020
Saw one for PWP/Gugg, so I was wanted some info on a BB. Barclays also seems to be on a growth trend. Thoughts on exits, culture, best groups, deal flow, competition with other banks?
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Are they on a growth trend? Didn't both of their heads of industrials investment banking leave last year?
You can bring up similar headlines for any bank, the broader trend is that Barclays is growing.
Anyone have thoughts on NYC vs London as well?
For what its worth, I talked to one Barclays analyst who told me the strongest groups were P&U and Nat Res still along with UK M&A in the UK.
It's the final european investment bank that wants to invest heavily in IBD and be a global player. Doesn't have many weak spots in terms of sector coverage and hear that the culture is great from friends who interned there.
Still would take GS/MS/JPM or a top EB over it any day.
I would personally take Barclays but I'm just not interested in RX
recently was replaced in the list of BBs by RBC
Some people just want to watch the world burn
Imagine thinking RBC is a real bank
Have applications for Barclays 2021 analyst internship closed? If not, do you know when they do?
The haven't even opened yet. They just wrapped up their Springboard (Diversity) Program.
We've discussed this to some extent on another thread but we're doing well. Good groups include Nat Res, Power & Utilities, Financial Sponsors, Consumer, Healthcare, LevFin, and Industrials (still a good group). Tech group has strong competition in other banks but is getting better & growing through senior and junior hires. All M&A done within the industry groups, like GS.
Exits are more group-dependent and individual-dependent (your school, your personality, your interviewing/networking prowess) but you're not that limited by the bank.
Culture is great across the board. Not going to say everyone's perfect but people generally are friendly and work well together. "Collaborative" is a word that typically comes out around the top of our culture survey. We're also generally more progressive and friendly, as a whole.
Competition with other banks depends heavily on the group, of course. The deal flow has been good as we take share from European banks like CS, DB, and UBS that have chosen not to invest / support their IB franchise as much. People believe in JES' leadership overall in that respect that he supports our strategy as a combined Retail/Commercial/Investment trans-Atlantic bank.
Would it be possible to PM you or maybe for you to PM me? I'll be there this summer, and have a few questions. Thanks
Did P&U merge with Industrials? Saw some talk about that in another thread but wasn't sure if that was just at the group head level or if there was further integration (or just not true at all).
Potentially, I'm not in the group. Sometimes groups merge, or separate. By P&U I mean specifically the MDs and the people underneath them generally work together (each MDs have their favorite Ds, VPs, on down to work with, and they cover certain accounts). At the Analyst level it may be more fluid, I am not sure but it's possible.
heard FIG is also great
Yes FIG is also a great group, have worked with them a couple of times and very sharp people.
Do you have any thoughts on activist shareholder Edward Bramson's push to have Jes removed and replaced with someone who will downsize IB? According to FT, he doesn't have much support among the board or with other major shareholders (only ~13% backed his run for the board); however, FT also claims Jes may be stepping down anyway by the end of 2021. Regardless, Barclays is one of my top choice (if not my absolute top choice) due to the people I've met there, so this just has me feeling a little bit uneasy.
How is the culture in groups like tech and industrials? Have heard and seen on other forums that they are more of a sweatshop groups then the other coverage groups at Barcap.
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