Barclays to recruit more staff to bolster its European equities trading business
The decision contrasts with Deutsche Bank, which plans to cut 17% of its equities-trading staff, and Credit Suisse, which has pledged to slash 6,500 jobs
London — Barclays plans to recruit more than 20 staff this year to bolster its European equities trading business as CEO Jes Staley continues to back the investment bank while rivals retreat, according to two people familiar with the strategy. The bank is searching for experienced traders and salespeople, as well as quantitative and product management specialists, said the people, who asked not to be identified because the plans are private. Barclays currently employs about 450 people in equities in Europe, the Middle East and Africa, according to a person with knowledge of the industry, and the business is run by Rich Evans. Staley recruited JPMorgan Chase’s global head of equities, Tim Throsby, to overhaul the corporate and investment bank, which had steadily lost revenue and market position to revitalised US rivals. The future of the securities unit was uncertain under Staley’s predecessor Antony Jenkins, who publicly expressed concerns about its ability to generate sufficient re...
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