US
Company: Barclays Capital
This Screenshot Typifies the Life of an Investment Banker
Investment bankers make plenty of money, but it often comes at a price, for the banker and their family. This screenshot, taken by an investment banking source at Barclays, paints this picture with clear strokes. The bank is hosting an upcoming event called “The Nanny Factor,” which will cover the “challenges and benefits” of someone […]
U.S. Investment Banker Bonuses 60% Larger than Europeans’
The average bonus for associates at U.S. investment banks in 2012 was more than 60% larger than that of their European brethren, according to a new survey. European banks softened the blow, however, by paying mostly in cash. Associates at U.S. investment banks took home an average bonus of more than $134k in 2012, up […]
Barclays’ French-American Banking Duo Aids Jenkins’ Drive for Control
Rich Ricci’s departure as Barclays’ investment banking head leaves a French-American duo at the top of the unit . It also puts Chief Executive Antony Jenkins in the driver’s seat of the entire bank. Here’s a quick look at the two new co-chief executives of corporate and investment banking who succeed Ricci, who is due to […]
The ten real reasons Rich Ricci had to go from Barclays
Rich Ricci is no more. Despite being comparatively youthful and only recently telling Financial News he planned to go nowhere at all, the 49 year old banker with the comedic name has suddenly decided to take surprise retirement on June 30th. Ricci’s retirement may be a surprise, but it has an air of inevitability. Barclays says […]
Boss’s Pay Package Leaves Barclays’ Investment Bankers Stunned
Investment bankers at Barclays have been grumbling about their lack of compensation for well over a year. It likely came as a frustration then to see their boss, investment banking head Rich Ricci, celebrating a massive financial windfall this week along with other top executives. Ricci cashed in 5.7 million shares worth more than $26.6 […]
Tudor’s Change in Strategy Opens Seats
When a flood of employees walk away from a firm in the current economic environment, it’s almost always due to a negative event. Either a hedge fund is hemorrhaging money or a bank’s deeply embroiled in scandal, adversely affecting business. Or, as with the case of Cantor Fitzgerald, the firm’s just a revolving door. Greenwich, […]
U.S. I-Bankers Feeling Disrespected
There’s a dirty little secret on Wall Street. Despite the layoffs, bonus cuts and scandals, most U.S. investment bankers did a pretty good job last year, at least compared to their brethren across the pond and in Asia. Now they appear sick of doing the heavy lifting and have begun to grumble. Barclays this week […]
BarCap Cuts Up to 10% of U.S. Staff Days Before Bonus
Barclays cut between 5% and 10% of its capital markets, advisory and other investment banking units in the U.S. yesterday, just days before bonuses are scheduled to be announced, a source within the bank told eFC. The cuts ran the gamut in terms of seniority, affecting first-year associates through director level. The source had no […]
Banking’s Game of Musical Chairs
If you want to work at a full service bank, your options may soon be limited. Only five or six “bulge bracket” firms, banks that offer a complete suite of investment banking and trading products on a global scale, will likely remain if returns don’t improve significantly, according to consulting firm McKinsey. The report, with […]
Barclays Cuts Split the Atlantic
The stark differences in employment law between the U.S. and the U.K. were on full display yesterday with news of layoffs within Barclays’ investment banking division. Cuts will take place on both sides of the pond, but while U.K. investment bankers received word surrounding the timing of the layoffs, their U.S. brethren may have had […]
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