By Barclays’ investment banking resurgence traces directly to its aggressive poaching of 87 Credit Suisse dealmakers since the UBS takeover – including star healthcare banker Marco Sambo and tech MVP Jessica Li. The talent infusion powered Q1 advisory revenues to £780M, up 62% YoY.
Recruitment Wins:
- Team Liftouts: Acquired CS’s entire FIG team (12 bankers)
- Comp Packages: Guaranteed bonuses up to 300% of base
- Cultural Shift: Dropped “strict collar” dress code
Deal Flow Impact:
- Healthcare: Led £5B AstraZeneca spin-off
- Tech: Won 3 European unicorn IPOs
- Energy: Advised on $7B Gulf oil merger
Integration Challenges:
- 23% attrition among legacy Barclays MDs
- London office space constraints
- Client overlap in 17% of accounts