Barclays

  • 28 Feb 2014 at 2:15 PM

Barclays Cares About Its Junior Bankers Too Ya Know

Like Goldman Sachs, JP Morgan, Bank of America, Credit Suisse, Bank of Montreal, and Citigroup before it, Barclays has decided that all work and no play make for grumpy junior mistmakers. Unlike the “protected weekend” adopted by JPMorgan and Citi, and the 36-hour weekend favored by Goldman Sachs and Credit Suisse, the Brits are taking a three-pronged approach to unshackling its little workers bees from their desks by: making sure they take their vacations, not letting anyone work more than 12 days straight without a break to catch their breath, and forbidding the assigning of projects after 12 on a Friday, unless it’s really important in which case, settle in. Read more »

  • 26 Feb 2014 at 3:37 PM
  • Banks

Layoffs Watch ’14: Barclays

The last handful of traders standing at the power-trading desks are standing no more. Read more »

Advisers at the Barclays Wealth & Investment Management division in the Americas will no longer get paid solely on how much money they bring in. Going forward, their compensation could be docked for misconduct…Barclays advisers will receive about half of their pay in the form of a monthly payment; the other half will be paid out every three months, according to people familiar with the new arrangement. While both payments will be based on a production formula similar to that at other firms, the quarterly payment also takes into account values-based criteria that include professional conduct and customer complaints. Poor performance in these areas could lead to a reduced payout. Mr. Lee said the new pay model was “well received.” But Andrew Parish, managing director at Axiom Consulting Group LLC, says he has fielded calls from at least 10 Barclays advisers in New York, Los Angeles and Chicago, among other places, since they learned of the new arrangement late last year. So far, none has decided to move elsewhere, he said. [WSJ]

Unlike Antony Jenkins, the rest of Team Barclays will be accepting bonuses this year, thanks. Read more »

  • 03 Feb 2014 at 1:52 PM

No Bonus For Me, Thanks: Barclays CEO

Reuters reports that for the second year in a row, Barclays Chief Executive Officer Antony Jenkins has turned down the bonus offered to him. This time around, he said that it would be inappropriate to take the money, in light of “the bank’s hefty bill to pay for past problems.” All of this probably comes as a surprise to another CEO, whose name shall not be mentioned, who thought they agreed to put up a united front re: bonus accepting in the face of legal fees, be they Libor, whale, mortgage, or alternate side parking ticket-related, and who at this moment is angrily dictating an email thanking Jenkins for making him look like a Grade A Jackass. Read more »

  • 28 Jan 2014 at 2:41 PM
  • Banks

Barclays May Have Better Ways To Spend £40 Million Per Year

Sure, it’s great to have your name attached to the world’s most popular sporting league. But in light of recent issues, not Bob Diamond & co. may just choose to lie low for a while. Read more »

  • 28 Jan 2014 at 12:57 PM

Layoffs Watch ’14: Barclays

If you’re a junior mistmaker at the bank, consider passing it on to your MD that he/she might want to gird his/her loins. Read more »