Barclays share price: Group planning to boost European equities team

Lender continues to back investment bank while rivals retreat

Barclays share price: Group planning to boost European equities team

Barclays (LON:BARC) is planning to recruit more than 20 staff this year to bolster its European equities trading business, Bloomberg has revealed. The move comes with the group’s chief executive Jes Staley continuing to back the investment bank while rivals retreat.

Barclays’ share price has slipped marginally lower in today’s session, having lost 0.22 percent to 207.30p as of 09:06 BST, slightly underperforming the broader London market, with the benchmark FTSE 100 index currently 0.06 percent worse off at 7,113.95 points. The group’s shares have gained more than 20 percent over the past year, but have given up some seven percent in the year-to-date.

People with knowledge of the matter told Bloomberg yesterday that Barclays was searching for experienced traders and salespeople, as well as quantitative and product management specialists. Another source explained to the newswire that the FTSE 100 group currently employs about 450 people in equities in Europe, the Middle East and Africa, and the business is run by Rich Evans.

The sources added that Barclays had lost three staff from its electronic sales and trading team earlier this year, and plans to replace them and any other departures in addition to the 20 new hires. Equities chief Evans meanwhile has reportedly already poached Simon Fickling, a chemical industry specialist, who joined from Exane BNP Paribas in February. Bloomberg noted that the blue-chip lender had declined to comment on the firm’s recruitment policies.

The 21 analysts offering 12-month price targets for Barclays for the Financial Times have a median target of 245.00p, with a high estimate of 280.00p and a low estimate of 190.00p. As of April 20, the consensus forecast amongst 25 polled investment analysts covering the blue-chip bank advises investors to hold their position in the company.

As of 09:34 BST, Friday, 21 April, Barclays share price is 207.75p.

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