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TOP STORIESIs BarCap bonkers to boost its US headcount?2 September 2008COMMENTSBob Diamond merely has the good sense to see that American bankers are to be had for peanuts in the current market. Read all comments »Think that American investment banking is just one big bloodbath of job cuts, hiring freezes and plummeting bonuses? Barclays begs to disagree.
Barclays Capital, the British firm’s i-banking arm, seems to have forgotten about the credit crunch and is still merrily hiring in the USA. In fact, it’s on track to increase staff numbers by 16% this year, a jump which is in line with the 400 recruits it took on in 2007.
With the likes of Lehman Brothers looking at more US layoffs, is Barclays being too bold?
Jerry del Missier, BarCap’s president, hopes his firm’s growth with help redress the banking balance as the bulge bracket braces for more bad news. He’s especially keen on financial institutions and equities specialists.
But with a current headcount of only 3,000, how much help can BarCap really give to American i-banking?
Should the British bank be brave or bashful in the US? Let us know below.
COMMENTSDexter the man, Risk Management, Tue 02 Sep 08Bob Diamond merely has the good sense to see that American bankers are to be had for peanuts in the current market. Given no one else is about to hire them, he might as well pick them up for a modicum of what they were worth a few years before. Buy low. Add your comment »Rogers, Private Banking / Wealth Management, Wed 03 Sep 08The real question is whether anyone would want to work for Barclays Capital in the US. It's still a bit player as far as I'm concerned. Add your comment »Heiber, Commodities, Thu 04 Sep 08They have a different model and different client base to the bulge bracket and they're much much smaller - it's not comparing like with like. Plus Barcaps growth in Asia is much stronger - that's the key overseas market for them. Add your comment »bambam, Sales & Marketing, Sun 07 Sep 08Bob Diamond shouldn't be underestimated. His timing is excellent considering the fact that a multitude of bankers have lost their jobs from a domestic standpoint. Barcap is a smaller institution, but still a global financial conglomerate. Nobody else intends on hiring some of these homeless bankers, and there aren't too many other firms stressing that they are actively recruiting in the states. If you are in IB, and unemployed, beggers can't be choosers in any sense. Add your comment »Zac, Insurance, Mon 08 Sep 08You'd certainly wait to work for BarCap if you've just bee laid off by Lehmans, UBS, Merrills etc etc!!! Add your comment »Henry, Information Technology, Wed 17 Sep 08Barclays is set to grow even more if it takes on some of L Bros! It could be a big player soon Add your comment » |
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