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Barclays International consists of Barclays Corporate and Investment Bank (formerly known as Barclays Capital) and the Consumer, Cards & Payments business. The investment banking business provides advisory, financing and risk management services to large companies, institutions and government clients.
In 2013 the division was restructured to work more closely with retail and corporate banking divisions. It serves affluent and high net worth clients through offices across the UK, offering personalised banking, credit, investment management and wealth planning services. [1] As of 2013, reported client assets were £202.8 billion. [2]
Strength in investment banking offset challenges at Barclays dominant consumer business, where lockdown led to lower spending on its card. Barclays Q1 2021: Investment bank helps lender beat forecasts
The investment banking industry, including boutique investment banks, have come under criticism for a variety of reasons, including perceived conflicts of interest, overly large pay packages, cartel-like or oligopolistic behavior, taking both sides in transactions, and more. [50] Investment banking has also been criticized for its opacity. [51]
The lender reported a £2 billion pre-tax profit haul for the three months to September 30, nearly double the £1.1 billion seen a year ago.
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In May 2022, Barclays increased its stake in Barrenjoey to 18.2%. [6] [7] On 9 February 2023, Governor of the Reserve Bank of Australia, Philip Lowe had a closed door meeting with Barrenjoey which was leaked to the media. The move attracted criticism and Lowe later stated he would avoid attending events at the firm "for quite some time".
Investment bankers were awash with deals in 2021, but have seen few this year as companies halt buyouts and listings amid volatility in the capital markets, tensions between the United States and ...