Barclays Share Discussion Threads

[bernie37] 15/1/2018 16:05

Portside1,2018 Barclays investment side may show fruit , big changes take time we should start showing better results.

[manics] 15/1/2018 16:02

portside1: we are reaching the point where I could literally cut and paste your posts from calendar 2017 as we progress 2018. Same frustrations. Same threats. Same outcome imo.

Nothing changes imo.

[portside1] 15/1/2018 15:53

lloyds m/c 51b

rbs m/c 36b

barcs m/c 33b

time is now running out for the whole bod who have failed to do anything over the last 3 years mc liar sacked Jenkins or did he lie

under the leadership of him and jes the company as sunken into a dismal bank

[bernie37] 15/1/2018 11:00

Barclays rose on the back of an upgrade to ‘buy’ at Investec.

[portside1] 15/1/2018 10:08

i will not be giving my consent its a open door to losing money by fraud . only idiots will give consent brainless dimwits like these women who think they are smart but are thick as planks

[bernie37] 14/1/2018 15:15

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Barclays ‘sacrificed trader’ to end rigging investigation
Gurpreet Narwan
January 13 2018, 12:01am,
The Times
Economics
Banking
The bank dismissed David Fotheringhame after the regulatory investigation
The bank dismissed David Fotheringhame after the regulatory investigation
OLIVER MORRIS/GETTY IMAGES
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Barclays offered up one of its traders as a “fall guy” to end a regulatory investigation, according to a former senior executive at the bank.

David Fotheringhame, the bank’s former head of automated flow trading for electronic fixed income, was dismissed after a $150 million settlement between Barclays and the New York banking watchdog.

In 2015 the regulator told the bank to eliminate his post after an investigation into Barclays’ “last look” trading policy. Last-look systems enable banks to delay their response to foreign exchange trades and to reject them if the price goes past a threshold during the “hold” period. The tool is designed to defend against “toxic” high-frequency traders who take advantage of the dramatic price shifts that occur in milliseconds. However, the regulator said that the system had been used as a “general filter” to reject customer orders that Barclays predicted would be unprofitable to the bank.

Tim Cartledge, the bank’s former head of global electronic fixed-income currencies and commodities and Mr Fotheringhame’s former boss, said the “sham” dismissal had been designed to satisfy the regulator at a time when the bank was trying to end a wider investigation into foreign-exchange fixing.

Mr Fotheringhame, who is suing for unfair dismissal, previously cited data that showed the last-look system had been “highly discriminating”; in its treatment of clients, evidence which he claimed was ignored by the bank.


Barclays described Mr Fotheringhame’s claims as “misconceived” and raised doubts about the conduct of Mr Cartledge while he was an employee.

[bernie37] 14/1/2018 14:59

Americas 2017 rankings
US Investment Banking Revenue by Bank – Full Year 2017 league table
Rank Bank Revenue Share 2016
1 JPMorgan $4.17bn 10.5% 1
2 Goldman Sachs $3.96bn 10.0% 2
3 Bank of America Merrill Lynch $3.41bn 8.6% 3
4 Morgan Stanley $2.70bn 6.8% 4
5 Citi $2.48bn 6.3% 5
6 Barclays $2.30bn 5.8% 6
7 Credit Suisse $2.17bn 5.5% 7
8 Wells Fargo Securities $1.55bn 3.9% 8
9 Jefferies LLC $1.32bn 3.3% 9
10 Deutsche Bank $1.22bn 3.1% 10
For more Americas 2017 league tables, please contact us.

[jordaggy] 14/1/2018 04:44

Some interesting reads there Bernie. Nothing to worry about then ;(

[bernie37] 13/1/2018 15:41

Fun banking facts: you can pick up Barclays shares cheaper than Royal Bank of Scotland’s in terms of valuation.

That’s right, the stock market thinks less of a bank that turns a profit (mostly) and pays a small dividend, than it does of Royal Bank of Scotland, which hasn’t made money in nearly ten years. Optimists think it might pay its first divvy this year, but only if the fates align.

Poor Jes Staley. Upon the release of the half-year numbers, the Barclays CEO said that the bank’s “restructuring is complete”.

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“From 1 July we are the bank that we want to be,” he boldly declared.

If you forgive the thumping paper loss he made on pulling out of Africa, which marred the numbers, he also had a pre-tax profit of £2.34bn to talk about.

And yet he still wasn’t able to find any love in the heart of the city.

Why is there so little faith in this transatlantic super bank “with global reach”, particularly when compared with the industry’s problem child?

Perhaps it’s because, as far as the City is concerned, RBS is fixing its problems. It has one more really big nasty to get out of the way. That would be the packaging up and sale of dodgy mortgages that went on in the run up to the financial crisis. It will cost RBS (and therefore we taxpayers) several billion pounds.

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Once that’s done, however, the worst should be out of the way.

I’d personally be a little more sceptical than London’s institutional investors are. RBS for many years looked like a rogue bank. To my mind, it has a lot still to prove.

But if you look closely at Barclays, you start to see why the City might have a point with its unflattering comparison of the two.

Barclays is the banking industry’s geezer! It’s a little bit fly. No bothersome British Government bail outs for us. We’ll get our clever chaps to rustle up some Qatari cash to keep the Treasury’s hands off us.

The consequences of that decision can be seen within the pages of legal disclosures that make the life of a banking reporter easy. When there’s nothing much to say about the results, you can always, but always, find some fun in the Barclays small print.

Forget the £700m tossed on to the PPI pile that made all the headlines. That’s just a common or garden misdeed that every one of the industry’s big guns have got a piece of.

It’s Barclays more esoteric troubles that worry people, and they should.

Numerous authorities are investigating the Qatari mess, and there will be civil actions to contend with too (the Qataris invested on very favourable terms and made a mint as a result).

With the Americans heavily involved, it’s clearly going to get very expensive.

And that’s not all. Barclays is fighting the US Department of Justice over the same mortgage issue RBS is preparing to settle, the only bank to take that tack.

Oh, and we shouldn’t forget Mr Staley’s attempt to out a whistleblower who upset one of his mates. Sorry, who tabled certain allegations against a senior director he had brought in.

Barclays describes this as a mistake, having concluded that Mr Staley must have thought it was ok to do what he did even though it was against the bank’s policy. It will be interesting to see if the Financial Conduct Authority agrees with that assessment.

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And so it goes, through those pages and pages of teeny tiny print.

The bank may be strategically where Mr Staley wants it to be, and it surely does look to be a lot more focussed than it once did.

But culturally? You have to wonder, and that might go some way towards explaining why the shares are so cheap. The industry’s super fly guys aren’t taking their stock holders very high. Perhaps they need a new approach.

[bernie37] 13/1/2018 15:34

Jes Staley’s latest problem at Barclays? Not enough people want to leave.

The bank has seen a decline in staff voluntarily leaving in the aftermath of Brexit, which managers are attributing partly to fears their positions may be relocated if they switch to a rival less tied to London, according to people familiar with the trend. The lower attrition is forcing managers to reassess their workforce planning and recruitment models as Barclays tries to eliminate £1bn of costs, they said.

The lender’s overall 12-month rolling voluntary attrition dropped to about 10 per cent in October from 12 per cent at the same time last year, according to the people. In the UK, the measure fell 2 percentage points to 8 per cent, they said. A Barclays spokesman declined to comment.


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The drop is most notable in technology and operations. Among the 30,000 people that work in the chief operating office -- which accounts for about a third of employees and is run by Paul Compton -- the rolling attrition rate has recently fallen to around 10 per cent after staying at about 13 per cent for at least the past three years, said the people, who asked not to be identified speaking about private data.

Impatient Investors

Investors are impatient to see evidence that the chief executive’s turnaround is working, particularly as the share price has slid 12 per cent this year. Barclays has pledged to reduce annual costs to between £13.6bn and £13.9bn by 2019 from £14.6bn last year. Cutting staff expenses will be key to achieving the bank’s recently-announced objective to generate a return on tangible equity of greater than 9 per cent in 2019 and more than 10 per cent the following year.

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Informal surveys of staff revealed one of the major factors in more employees deciding to stay put is that Barclays has been less vocal about relocating positions out of the UK, saying it plans to move only 150 people to Dublin, said the people. The bank’s stance contrasts with that of JPMorgan boss Jamie Dimon, who has said 4,000 roles may be moved inside the EU, while Deutsche Bank is planning to move a similar number to Germany, Bloomberg News has reported.

London’s information technology staff are also facing the prospect of their roles moving to lower-cost European Union countries in eastern Europe. Next year, Goldman Sachs is seeking to hire another 250 IT specialists in Poland to add to the 525 people already working in its Warsaw technology hub. JPMorgan said in September it will hire at least 3,000 people within three years for a new office in the same city.

Technology Company?

Mr Staley has said he wants to turn Barclays into a technology company and believes it needs to develop its own proprietary systems if it wants to stand out from the competition. The lender is choosing to increasingly make senior level hires directly from industry, hiring from companies such as PayPal and AT&T, one of the people said. The hires are seen as part of this drive to become a serious fintech company, they added.

To fulfill the chief executive’s promise, the number of managing directors that work in operations and technology this year was increased by about 30 per cent as the bank plays catch up to rivals such as JPMorgan that have been outspending them, the people said. This jump in senior management numbers will result in a large short-term increase in the company’s wage bill, with the bank expecting expenses to fall over time as technology replaces low-skilled jobs, one of the people said.

Bloomberg

[clond] 12/1/2018 20:53

How low can you go !!!!!

[bernie37] 12/1/2018 17:05

Barclays Plc Chief Executive Officer Jes Staley called on U.K. Prime Minister Theresa May to cut taxes and relax regulations on British banks after Brexit, according to a person familiar with his comments.

Staley told May and other industry executives meeting in London earlier Thursday that high taxes and burdensome regulation were making it hard for U.K. financial-services firms to compete against their U.S. rivals, said the person, who asked not to be identified because the meeting was private.


Jes Staley on Jan. 11.Photographer: Chris J. Ratcliffe/Bloomberg
It was the most constructive discussion between the government and bankers in some time, another person briefed on the talks said. Other executives invited to the meeting included Deutsche Bank AG CEO John Cryan, HSBC Holdings Plc Chairman Mark Tucker and UBS Group AG Chairman Axel Weber.

“The prime minister gave an overview of the U.K.’s position and updated on Brexit negotiations -- including the U.K.’s aim to agree an implementation period by the end of March,” according to a statement from May’s office. “The business leaders were united in emphasizing the need for as much certainty as possible,” and also “gave their views on how to maximize the benefits of an implementation period.”


One of the EU rules that has chafed on lenders and British regulators alike is the post-2014 limit on bonuses to twice fixed pay. Bank of England Governor Mark Carney said in November that the U.K. could review the cap after Brexit.

Negotiations on the future trading relationship between the EU and U.K. are due to resume in March, with the position of banks a major discussion point. Germany will demand the U.K. make substantial contributions to the EU budget for the privilege of its financial firms having access to the single market after Brexit, officials familiar with their thinking said Wednesday.

U.K.-EU talks to date “were deemed to have provided reassurance” to the executives who attended the meeting, the statement from May’s office said.

[manics] 12/1/2018 15:22

This is why I stepped forward to champion truth and realness on this once proud thread. If not me, then who?

[kenbachelor] 12/1/2018 10:47

Hi FJ - It does make you wonder.

[portside1] 12/1/2018 10:13

today blackrock and usa banks to give out results

[clond] 12/1/2018 00:00

Gets funnier - stock market in all time high and investment banking at an all time low ! How much are barclays paying these goons. Dollar hight, uk and America flying, yet a small high street bank in the UK can turn in 30% on share price overy barc. Something is very wrong and it appears to be a bit of history repeating rather than learning from the past.
I fear this next announcement and the shatterING of the price once again.

[diku] 11/1/2018 23:51

Those in the know know it...

[reimomo] 11/1/2018 18:33

That was yesterday's news. Would like to know what sparked today's drop against the market.

[bernie37] 11/1/2018 17:55

HomeNewsArticlesLON:RBS
Bank swaps: Morgan Stanley upgrades RBS, downgrades both Lloyds and Barclays
Share
11:24 10 Jan 2018
The US investment bank raised its stance on RBS to ‘overweight217; from ‘equal-weight’ with an increased target price of 330p from 265p, with the shares trading at 288.6p
RBS sign
Meanwhile, both Lloyds and Barclays’ saw their ratings cut back to ‘equal-weight’ from ‘overweight217; by Morgan Stanley
Royal Bank of Scotland Group PLC (LON:RBS) topped the FTSE 100 leader board in late morning trading, boosted by an upgrade from Morgan Stanley in a review of the UK banking sector which also saw them downgrade both Lloyds Banking Group PLC (LON:LLOY) and Barclays PLC (LON:BARC).

The US investment bank raised its stance on RBS to ‘overweight217; from ‘equal-weight’ with an increased target price of 330p from 265p, with the shares trading at 288.6p, up 8.1p or 2.9% on last night’s close.

READ: RBS has reportedly agreed the sale of Lombard Finance's offshore leasing business for £150mln

Meanwhile, both Lloyds and Barclays’ saw their ratings cut back to ‘equal-weight’ from ‘overweight217; by Morgan Stanley, with their targets reduced to 75p from 80p and 215p from 230p, respectively.

Lloyds shares slipped 0.02p lower to 68.38p, while Barclays shed 1.1%, or 2.2p at 199.6p.

In the note to clients, the Morgan Stanley analysts said: “We believe RBS offers better earnings visibility vs. peers as market share wins in mortgages will make it less vulnerable to ongoing asset spread compression in the segment.”

They added: “At the same time, substantial deleveraging in its corporate book and less exposure to consumer should see more resilient asset quality performance if macro were to deteriorate.”

The analysts also estimate that, with a lower increase in capital requirements than its peers, RBS could afford share buybacks equivalent to 15-20% of its market cap over time on top of dividend payments.

Litigation risks remain

They said litigation costs remain the biggest risk in 2018, with RBS expected to settle with the US Department of Justice on mortgage-backed securities mis-selling soon, with Morgan Stanley factoring-in a £2.5bn provision top-up in the fourth quarter of 17, which is the average of the fines it has tracked.

For Lloyds, the analysts said that, despite higher capital requirement, it is more optimistic on the margin outlook than consensus; however, with the stock trading at 1.3 times estimated tangible book value they see less room for a re-rating.

For Barclays, the analysts said they believe investors would need to assume £750mln-£;1bn higher market revenues versus the bank’s estimates to buy the stock - 20% upside.