Leaked Barclays memo says another senior exec is leaving in wake of investment bank chief's sudden departure

  • Guy Saidenberg, head of distribution and structuring at Barclays, is leaving the company today, according to an internal memo.
  • The exit follows a raft of departures after the shock exit of investment bank chief Tim Throsby.
  • Stephen Dainton, Barclays’s interim head of global markets, said in the memo that he plans to present his markets strategy to the executive committee “over the coming weeks.”

Guy Saidenberg, head of distribution and structuring at Barclays, is leaving the company today, according to an internal memo seen by Business Insider.

Saidenberg, a managing director, was previously a partner at Goldman Sachs and joined Barclays in 2017. The bank has seen a raft of senior executive exits in recent weeks after the shock departure in March of Tim Throsby, CEO of the investment bank.

Barclays employees on the managing director and director levels have been bracing for job cuts following the exits. But Barclays has said there are no plans for elimination of staff.

The bank’s interim head of global markets, Stephen Dainton, sent out the below memo today:

Guy Saidenberg has decided to step down from his role as Head of Distribution and Structuring and will leave the firm on 1 May.

During his time at Barclays, Guy’s commercial insight and dedication to clients has helped us make positive steps forward in our Markets business. As a key driver of the Markets digital strategy, he led the development and introduction of various digital and platform enhancements, which positions us well to differentiate our business going forward.

I’m sure you will all join me in thanking Guy and wishing him all the very best for the future. Following Guy’s departure, the Distribution and Structuring heads will report to me for the immediate future. Over the coming weeks, I will be presenting our Markets Strategy to the Group ExCo, with Distribution and Structuring a key element of that presentation.; I will ensure, as ever, that we continue to communicate our strategy and progress against that across Markets.

Thank you for your hard work and continued dedication to our clients, and please join me again in wishing Guy well for the future.

All the best,


Stephen Dainton

Global Head of Markets (interim)

Bloomberg reported on April 3 that Saidenberg was on his way out. But the bank only today released the memo. A Barclays spokesman declined to comment on Saidenberg’s departure. Saidenberg did not immediately return an email seeking comment.

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