Rivals likely to target Barclays to try to poach top talent

Eggs with faces

Blood in the water.

Where Barclays sees a 'generational shift', its investment banking rivals are smelling blood.

Reuters reports that the bank, which under former chief Bob Diamond poached top staff and customers from competitors in trouble after the financial crisis, now risks suffering the same fate as it radically shrinks its investment banking business.

Diamond's successor as CEO, Antony Jenkins, says he does not expect a further exodus of top talent after departures from Barclays' U.S. operation, but some trading staff at least are preparing for the exit as the bank pares back its ambitions to be a Wall Street powerhouse.

Barclays announced last week plans to shrink its debt trading business and axe a quarter of staff, focusing instead on U.S. and British clients and products where it ranks in the top five in business such as selling government bonds, stocks and currencies and advising on deals.

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Barclays sees generational shift, rivals smell blood

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