Layoffs Watch '15: New Barclays Chairman's Nickname Involves The Word 'Knife,' So...

So that's comforting.
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If you've never stopped to ponder what sort of nickname you'd like the chairman of your bank to have, now is a great time to think about it. Bob "Will never fire anyone and doles out hefty bonuses every year regardless of performance" Smith would probably be fine with most people. Bob "It's 5 o'clock somewhere and that somewhere is my office" Smith would also work. Bob "All around chill guy, and not just for a bank chairman" Smith. Bob "Mi casa in the south of France es su casa in the south of France" Smith. Bob "This Chipotle is on me" Smith. And so on and so forth. In lieu of finding yourself working for a guy or girl with a similar sort of sobriquet, one might settle for someone with no nickname at all or at least just one he wasn't given on account of firing tons and tons of people. Barclays employees know (or will shortly know!) what we're talking about.

Barclays PLC is bracing for the arrival of “Mack the Knife.” John McFarlane, a former Citigroup Inc. executive with a penchant for feng shui and playing the guitar, earned his nickname as a fearsome restructurer of ailing financial institutions in Asia, Australia and the U.K, often slicing investment-banking jobs along the way. Next month he becomes chairman of Barclays...The 67-year-old Mr. McFarlane, who currently chairs British insurer Aviva PLC and sits on Barclays’ board, has told friends that his primary focus won’t be on changing the culture at the scandal-prone bank, but rather boosting returns for shareholders. A Barclays spokesman declined to comment.

So, uh, gird your loins and other places you'd like to avoid a sharp object coming near.

John McFarlane: Barclays Braced for ‘Mack the Knife’ [WSJ]


Layoffs Watch '12: Barclays

Cuts are said to have gone down in Bob Diamond's den yesterday. "FYI: layoffs yesterday at Barclays Capital. Lev Fin was hit hard (though Barclays was nice enough to do the cuts after bonuses were handed down, in addition to giving 1-month's pay)."

Layoffs Watch '13: Barclays

New CEO Antony Jenkins has apparently been reading the Tarot cards on Barclays and what they're telling him is the bank is about to have 40,000 fewer employees.