Barclays

Office address: 745 Seventh Avenue, New York, NY 10019
Website: www.barclays.co.uk
Year established: 1965
Company type: financial services
Employees: 11,500+ (US)
Expertise: mergers and acquisitions, capital markets, debt financing, equity financing, risk management, research, trading, restructuring, leveraged finance, industry coverage across sectors
Parent company: Barclays PLC
Key people: C.S. Venkatakrishnan (group CEO), Anna Cross (group finance director), Craig Bright (group co-COO), Stephen Dainton (president), Anne Marie Darling (group co-COO), Cathal Deasy and Taylor Wright (global co-heads of investment banking)
Financing status: corporation

Barclays is a global financial services firm with a strong US presence, especially in investment banking. The company offers mergers and acquisitions, capital markets, and trading services. Its investment banking division, Barclays Capital, focuses on advisory, financing, and trading for institutional clients.

History of Barclays

Barclays set up its first US affiliate, Barclays Bank of California, in 1965 in San Francisco. The company’s roots, however, reach back to London in 1690, when John Freame and Thomas Gould ran a goldsmith banking business on Lombard Street.

By 1736, James Barclay joined the family, and the name became a fixture in British banking. Over time, small family-run banks struggled to compete, so in 1896, twenty of them joined forces to create Barclay and Company Limited.

Growth through mergers

Quaker families helped shape the firm, bringing business ties and a reputation for trust. By 1896, the merged bank had 182 branches and 806 staff. Continuing mergers made Barclays the third largest bank in Britain by 1920.

Expanding beyond Britain

Under Frederick Craufurd Goodenough, the bank acquired Colonial Bank, Anglo-Egyptian Bank, and the National Bank of South Africa. In 1925, these were merged to form Barclays Bank (Dominion, Colonial and Overseas), which later became Barclays Bank International. At home, Barclays grew by acquiring Martins Bank in 1968 and by hiring more women, who outnumbered men on staff by 1962.

Modern moves and investment banking

The company continued to evolve, acquiring The Woolwich in 2000 and Juniper Financial in 2004. The company also changed its structure, moving from local offices to regional and then centralized services.

In 1986, it launched its investment banking arm, which became Barclays Capital. This division expanded further in 2008 after acquiring parts of Lehman Brothers. In 2016, the firm focused its strategy on the UK and US, selling several international businesses and reducing its stake in Africa.

Barclay’s new structure and focus

By 2018, the firm made its biggest structural changes in decades to meet new UK regulations. The company separated its UK retail and business bank from its international and investment bank.

Barclays products and services 

Barclays Capital offers a broad range of investment banking and market solutions tailored to institutional and corporate clients:

Investment banking

• mergers and acquisitions
• equity capital markets
• debt capital markets
• leveraged finance
• risk management

Global markets

• macro
• equities
• credit
• securitised products
• prime services
• fixed income financing

Research

• equity research
• credit research
• macro and strategy research
• thematic investing research
• sustainable investing research
• data and investment sciences
• quantitative portfolio strategy
• bespoke solutions

International corporate banking

• trade and working capital
• cash management
• foreign exchange
• lending
• green solutions
• currency clearing
• payments
• digital banking

Barclays Capital provides research and digital banking services as part of its global platform. The firm provides tailored solutions to support clients with risk management and financial objectives.

Culture and corporate values

Barclays Capital states that its culture encourages people to be themselves and contribute in meaningful ways. The company also lists these values:

1. respect
2. integrity
3. service
4. excellence
5. stewardship

According to Barclays Capital, it aims to build a supportive, inclusive workplace where employees can bring their whole selves to work. Their benefits include:

• compensation and benefits: competitive salary, pension, annual bonus, life assurance, income protection, and flexible voluntary benefits
• health and well-being: mental health support, wellness resources, sports and social clubs, and family wellbeing programs
• learning and development: digital learning, career progression, job rotations, and leadership development at all levels
• diversity and inclusion: support for disability, gender, LGBT, multicultural, and multigenerational employee networks
• leave and family support: paid maternity, paternity, adoption, surrogacy, bereavement, and unpaid family leave options
• citizenship and volunteering: opportunities for volunteering, fundraising, and supporting social and economic growth
• US-specific family leave: 16 weeks paid maternity or primary caregiver leave, six weeks paid paternity or non-primary caregiver leave

Barclays Capital also describes valuing unique perspectives and skills, helping teams thrive together. The company shows a sense of belonging and community, encouraging every employee to feel recognized and included.

About CEO C.S. Venkatakrishnan and key people

C.S. Venkatakrishnan is the group CEO of the firm, appointed in 2021. Before this, Venkatakrishnan led global markets and served as co-president of Barclays Bank PLC. Earlier, he worked at JPMorgan Chase in senior roles across asset management, investment banking, and risk.

Here are the key people leading Barclays, each bringing unique experience and focus to their roles:

• Anna Cross serves as group finance director, overseeing financial strategy and reporting for the group
• Craig Bright acts as group co-COO and Barclays Execution Services co-CEO, focusing on technology and operations
• Stephen Dainton serves as president of Barclays Bank PLC and oversees investment bank management, directing strategy and operations for investment banking
• Anne Marie Darling works as group co-COO and Barclays Execution Services co-CEO, managing service delivery and transformation
• Cathal Deasy holds the role of global co-head of investment banking, overseeing advisory and capital markets work across all regions
• Taylor Wright serves as global co-head of investment banking, driving global investment banking growth and client relationships

The board creates Barclays’ strategy and the executive committee carries out those plans.

The future at Barclays

In 2024, Barclays Capital agreed to pay a $1.25 million fine after Finra found lapses in its fingerprinting and background checks for thousands of employees. The company is now updating its supervisory systems and has already fingerprinted nearly 1,800 staff to meet compliance rules. These changes help Barclays strengthen its internal controls, which support client trust and the firm’s long-term regulatory standing.

The company is also helping lead the surge in global mergers and acquisitions as the AI sector grows. The firm’s bankers are advising on some of the largest deals, such as Alphabet’s $32 billion purchase of Wiz. This activity positions it to support clients in major transactions and strengthens its advisory business for the future.