If you’re one of the supposed near 30% of Barclays’ investment bankers hitting the job market now, it’s a tough time. Some banks are refusing to pay recruiters' fees on Barclays bankers put forward – so plentiful is their supply – and the bank’s focus on cutting at the top comes at a time when investment banking recruiters are complaining about a ‘lack of liquidity’ at the senior end. In other words, no one is moving and there are few new opportunities.
The chances are that if you’re in an advisory position and want to stay at Barclays, you could be OK. Tom King, chief executive of Barclays’ investment bank, revealed only yesterday that the bank has hired 19 senior corporate finance professionals since May.
Sales and trading professionals are not as lucky. And yet, in recent weeks increasing numbers of Barclays bankers have found new employment, across a range of different City institutions and beyond. These are the significant moves:
Then: Head of IBD FIG structuring for Europe
Now: Head of rates structuring at Royal Bank of Scotland
Then: Managing director in emerging markets sales
Now: Global macro sales at BlueBay Asset Management
Then: Managing director, rates sales
Now: Managing director, rates sales, Bank of America Merrill Lynch
Then: Managing director, head of CEEMEA equity trading
Now: Partner, Rivage Investment SAS
Then: Director, head of EFG sales trading
Now: Executive director, Goldman Sachs
Then: Managing director, healthcare M&A
Now: SVP, Health Care REIT
Then: director, futures DMA sales
Now: Sales at ICAP
Then: Chief operating officer, treasury within the investment bank
Now: COO for Shoreditch-based film company, Oliver’s Island
Then: Director, risk solutions group
Now: Director, HSBC
Then: Director, risk solutions group
Now: Executive director, Goldman Sachs
Then: Director, solutions sales
Now: Mizuho International
Then: Director, insurance solutions
Now: Director, PwC