Have Barclays' redundancies dried up ahead of results day?
We're just asking because...even though Barclays still has around 4,000 redundancies still to go in its investment bank, the UK Financial Conduct Authority (FCA) Register, filtered by information firm IMAS, shows next to no one leaving the investment bank in February.
In the past month, the FCA Register suggests three registered people have left the bank. They are: Craig Adamson, a former VP in risk management, Avgustina Sarkizova, a former index and portfolio risk solutions professional, and Ralf Nachitigall, a former vice chairman of EMEA ECM. Nachitgall has joined Rothschild, but Adamson and Sarkizova have yet to resurface in registered roles elsewhere.
Several conclusions can be drawn from the trickle of Barclays exits. It's possible that Barclays has made all 7,000 of its redundancies already, although this seems unlikely. It's possible that Barclays has decided not to make any job cuts until everyone has happily received their bonuses, although this seems unlikely. Or it's possible that all the cuts Barclays is making are in the middle and back office and therefore concern people who are not registered with the FCA anyway. We suspect the latter is the reality.