Equities trading, which suffered from a decline in derivatives activity last year, might see its overall compensation pot drop as much as 10pc.
Barclays is weighing an increase in the bonus pool for its fixed income trading division, with the unit expected to produce record revenue after 2022’s wild market swings.
Under CEO C.S. Venkatakrishnan, Barclays has been investing in the firm’s prime brokerage business, which offers hedge funds and other asset managers financing for products including equities.Equities trading, which suffered from a decline in derivatives activity last year, might see its overall compensation pot drop as much as 10 per cent, two of the people said, asking not to be identified discussing private matters.
Barclays’s fixed-income traders are expected to report their best year ever when the bank publishes fourth-quarter results later this month. The unit’s revenues are anticipated to surge 49 per cent to $US7.07 billion for the year, according to analyst estimates compiled by Bloomberg. Under chief executive officer C.S. Venkatakrishnan, Barclays has been investing in the firm’s prime brokerage business, which offers hedge funds and other asset managers financing for products including equities, fixed-income and foreign exchange. As part of the focus, Barclays last year hired 18 people from Credit Suisse Group.
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