Barclays

If the UK Serious Fraud Office and the people who are in charge of extradition have anything to say about it. Read more »

Antony Jenkins knows people are pissed. He knows it looked bad to increase bonuses after profits fell. He knows investors want results. He knows everyone is tense. He also knows that if everyone would just sit tight, and give him a couple weeks to finish a project he’s been working on, a lot of people will feel a lot better about the pay situation come May 8, when he officially announces the firing of a boatload of employees. Read more »

  • 23 Apr 2014 at 5:48 PM

Layoffs Watch ’14: Barclays

It’s possible the Brits will be getting rid of a quarter of their investment banking employees and if you ask Sanford Bernstein, those at the top should go first. Read more »

  • 01 Apr 2014 at 3:32 PM
  • Banks

Bob Diamond Is So Very Close To Running A Bank Again

The former Barclays chief’s new hobby is buying financial firms in Africa. Read more »

Jenkins, 52, is trying to revive profitability at the securities unit, the biggest source of income for the London-based firm, while wrestling with demands for higher pay from its bankers. He has fallen behind on targets he set as CEO and faces calls to outline a clear plan as he prepares to meet shareholders at the annual meeting next month…His efforts to revive profit have been hampered as revenue from trading bonds, currencies and commodities dwindles across the industry and regulators press Britain’s second-largest bank to increase capital or shrink assets to meet limits on leverage. Barclays’s full-year adjusted profit excluding one-time items as well as gains or losses on the value of the lender’s debt fell 32 percent to 5.2 billion pounds. The firm raised about 5.8 billion pounds in a rights offering in October. “There’s a feeling he has lost control of the business,” Christopher Wheeler, an analyst at Mediobanca SpA (MB) in London who last week cut Barclays to neutral from outperform, wrote in a March 24 note to clients. “The threat of an uncomfortable annual general meeting is becoming very real.” [Bloomberg]

  • 18 Mar 2014 at 4:17 PM

Bonus Watch ’14: Barclays Senior Staff

Dealbook reports that, like the rest of the firm, Barclays top executives did pretty well for themselves this bonus season, despite the bank doing not so well re: earnings. As previously mentioned, Chief Executive Antony Jenkins found himself between a rock and a bunch of employees who said they would quit if they weren’t made to feel loved in the way of compensation this year, and decided he had not choice but to increase bonuses. Clocking it at the highest paid member of Team Barclays was Hugh Skip McGee III, which is probably a good thing, as he’s been known in the past to make a stink when things don’t go his way. Read more »

You’ll get yours in due time, provided your record turns up clean/you didn’t do any favors for any big boys. Read more »

Back in February, Barclays announced that it would be making some changes around the office; specifically, that it would be asking approximately nine percent of the company to pack up their things to leave, for good. According to the FT, a couple more people may want to prepare themselves for an uncomfortable chat in the conference room with HR. Read more »