Barclays Capital is the investment-banking arm of global financial-services giant Barclays Bank PLC. BarCap provides its clients with strategic advisory, financing and risk management services. Its products and services include bonds, commodities, convertible bonds, credit products, electronic trading, emerging markets, equity cash, equity derivatives, equity origination, foreign exchange, fund-linked derivatives, fund solutions, index products, inflation-linked products, interest rate products, leveraged finance, loans, market makers, mergers & acquisitions, multi-asset program trading, municipal finance, prime services, private equity, research, restructuring and securitization.
BarCap is expanding its U.K. equity underwriting and corporate-broking business as it builds its European investment-banking division to complement its acquisition of Lehman Brothers Holdings' North American investment banking, capital markets, and private investment management businesses. Even so, the investment bank has grown its headcount by 40% since the financial downturn, bolstering its prime brokerage, equities, advisory and other businesses.
Barclays history stretches back to 17th century London. The investment bank describes its management structure as "flat" and avows a commitment to state-of-the-art technology. BarCap has had a reputation as a tight-knit, fiercely loyal shop with a high retention rate, low partner-to-employee ratio and a relative lack of emphasis on hierarchy compared to rivals. President Robert Diamond is known for having a "no-jerk rule."
Headcount has grown by 40% in recent years, and hiring is expected to continue until the end of the second quarter in most businesses. Meantime, the bank is still integrating Lehman's North American investment-bank operations.
BarCap has had a reputation as a tight-knit, fiercely loyal shop with a high retention rate, low partner-to-employee ratio and a relative lack of emphasis on hierarchy compared to rivals. But this culture could be at risk of eroding amid its rapid expansion.
The investment bank offers ample guidance to applicants through its Web site, so take the time to peruse its many pages. You'll learn such tips as the following: When writing your application, blanket statements such as: "I'm a hard-working, self-motivated team player with a real interest in investment banking" won't cut it. Back up your assertions by pointing to your accomplishments. And in some regions, you may be required to take qualifying tests similar to the GMAT exams.