Barclays executives say the collapses of key Credit Suisse clients Archegos and Greensill have created a rare opportunity to grab market share in investment banking
Barclays PLC recently overtook Credit Suisse Group AG in investment banking revenue, a sign that the U.K. bank’s long, frustrated push to be a major player is making progress thanks in part to the troubles of its Swiss rival.
The London-based bank vaulted past its Zurich-based counterpart to be the largest investment bank outside the U.S. in the second quarter of this year with $1.26 billion of investment banking revenue, representing a 4.1% market share, according to Dealogic. JPMorgan Chase & Co. was the top investment bank during the quarter with $3.15 billion of revenue, a 10.1% market share.
Inside Barclays, executives say the collapses of key Credit Suisse clients Archegos Capital Management and Greensill Capital have disrupted the investment banking landscape. This has created a rare opportunity for Barclays to grab market share in the business of advising on takeovers and arranging debt and equity sales for global companies.Barclays has gone after its wounded competitor.
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