Barclays’ US operations contributed 28% of group profits in Q1 – up from 19% in 2024 – as its Wall Street expansion challenges Goldman Sachs and JPMorgan on their home turf.
US Growth Drivers:
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Corporate Banking: 37% revenue increase
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M&A Advisory: Won 12 $1B+ deals
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Debt Underwriting: #5 in US high-yield bonds
Strategic Moves:
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Chicago HQ: $500M Midwestern expansion
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Sports Finance: $7B in stadium deals
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Tech Banking: 29 Silicon Valley hires
Cultural Adaptation:
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Introduced “unlimited vacation” for US staff
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Scrapped UK-style hierarchy titles
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24/7 trading coverage
Challenges Remain:
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Losing money on 43% of mid-market deals
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SEC probing ESG disclosures
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22% staff turnover in Texas
