Barclays is pushing its corporate bankers to funnel lucrative investment banking business through to its dealmakers as it attempts to grab a bigger share of the UK market.
Chief executive Jes Staley has long-vowed to keep Barclays as a "bulge bracket" investment bank and bolster its US operations, but the bank's recent expansion has focused on tapping a niche closer to home. Code-named "Project UK" internally, the bank wants closer ties between corporate bankers lending to British industry and the investment bankers bringing in deals. The push is primarily centred on bringing in more deals from UK mid-market companies.