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Barclays Faces Credit Trader Exodus Over Bonus Disappointment

  • Senior traders have quit the bank’s credit team led by Khan
  • Bonuses didn’t keep pace with profit in some teams, people say
Photographer: Michael Nagle/Bloomberg

Barclays Plc has been hit by a string of departures among senior credit traders in New York and London unhappy that their bonuses failed to reflect the pandemic profit surge.

The bank has offered promotions to some employees and given assurances over future pay in an attempt to address their concerns, according to people familiar with the matter, who asked not to be identified discussing private information.