The sweet spot for making managing director at Barclays this year
Barclays became the latest bank to announce its managing director (MD) promotions today. We've added the full list of 54 fortunate individuals who were tapped in the investment bank below, plus their locations and their job titles. If you want to get promoted at the British bank, today's new MDs clarify your best approach.
Firstly, you want to be based in either the U.K. or the U.S.. True to its claim to be a full service transatlantic investment bank, Barclays seems to have been pretty scrupulous about promoting similar numbers of people in its two main locations. We count around 21 in each.
Secondly, you probably don't want to be in Frankfurt or Dublin. Even though Barclays has been building a trading presence in Frankfurt and now claims to be the biggest bank in Ireland, no one got promoted in either city. Instead, people got promoted in Paris, Milan and Amsterdam, so make of that what you will.
Thirdly, you don't want to be in Asia. Only one person appears to have been promoted in Hong Kong. One in Tokyo. None in Singapore.
Fourthly, you probably don't want to be female. By our reckoning, only around 17% of Barclays' new MDs are female, but we're happy to be corrected on this.
And lastly, the sweet spot seems to be Barclay's investment banking division (IBD) in the U.S., where we count around 10 promotions this year.
Barclays didn't respond to a request for information on its MD list. However, the latter point is hardly surprising: the bank said in October that it had its best quarter for investment banking fees ever, driven by the U.S. market.
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