10% staff increase for Barclays Capital

| November 19, 2007 | 0 Comments
”10%

Barclays Capital, the investment banking division of Barclays is proposing to recruit over 1,500 people next year – the equivalent of a 10% staff increase globally.

Since the beginning of 2005, Barclays Capital has hired 6,600 staff as part of a rapid expansion plan that has achieved compound profit growth of 25% to 30%. In 2006, the company increased staff numbers by 18.8% after an increase of 24.5% in 2005.

Jerry del Missier, co-president of Barclays Capital, has earmarked the US and Asia as big areas of expansion in trading and investment banking activities.

Mr del Missier was upbeat about the prospects for credit markets and US mortgages and said credit is likely to be the fastest-growing asset class in the next 5 years because the fundamentals of transferring risk from banks to capital markets will continue. We have to be oriented to take advantage of that.

The announcement from Barclays differs with those at rival institutions, some of which are cutting jobs and closing trading operations in credit products related to US mortgages and leveraged loans.

Barclays Capital is a primary dealer in US Treasury securities and various European Government bonds.


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