Barclays Plc, the British banking giant, is intensifying its pursuit of corporate CEOs to bolster its advisory and equity capital markets (ECM) business after being sidelined in several major third-quarter deals in 2025. Finance Director Anna Cross acknowledged the bank’s strong ties with private equity firms, which have boosted advisory revenue, but emphasized the need to deepen relationships with corporate clients. Speaking on a conference call with journalists on October 22, 2025, Cross noted, “There’s more to do on M&A with corporates — we recognize that, and it’s a continued focus,” highlighting the bank’s strategic push to capture more high-value mandates.

The bank’s third-quarter performance revealed mixed results in its investment banking division. Barclays’ IPO bankers generated £71 million in revenue, an 11% increase from the previous year but below analyst expectations. In contrast, its dealmakers outperformed forecasts, bringing in £196 million from mergers and acquisitions (M&A) advisory work. However, the absence from blockbuster deals underscored gaps in Barclays’ ECM and corporate advisory portfolios. Chief Executive Officer CS Venkatakrishnan admitted, “It was dominated by a few large deals, which we were not fortunate to be in,” signaling a renewed focus on securing such opportunities in the fourth quarter.

Historically known for its dominance in fixed income and debt underwriting, Barclays is now pivoting to strengthen its equities and advisory arms as part of a broader strategy to enhance returns. Venkatakrishnan emphasized that success in ECM and M&A relies on relationships rather than capital allocation, stating, “The ECM and M&A stuff is not directly linked to capital at all.” The bank’s stock trading unit, however, underperformed with £689 million in revenue, flat year-on-year and trailing Wall Street competitors, adding pressure to diversify revenue streams through corporate engagements.

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Barclays’ leadership is banking on a robust deal pipeline to reverse its third-quarter setbacks. With some major transactions reportedly deferred to the fourth quarter, the bank is poised to leverage its expertise and relationships to regain footing in the competitive dealmaking landscape. By targeting corporate chieftains and enhancing its advisory capabilities, Barclays aims to reshape its reputation as a go-to firm for high-stakes transactions, potentially transforming its investment banking fortunes in the months ahead.

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