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  1. Wealth
October 14, 2008

Barclays derides RBS’s recruitment chances

By Spear's

Barclays appears to be getting into a war of words with Royal Bank of Scotland.

Barclays appears to be getting into a war of words with Royal Bank of Scotland as to the effect that ‘part nationalisation’ will have on their ability to attract and retain key income-generating staff, including those that service high net worth individuals at its private banking unit.

Barclays chief executive John Varley has warned that government ownership of rival banks will leave them “hobbled” and at risk of losing key employees, particularly in investment banking, as it unveiled its own plans to raise £6.5 billion in new capital from the private sector.

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