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Tuesday, July 18, 2000 Barclays Offers Equity To Execs Barclays Plc, the parent company of Barclays Global Investors, is offering senior staff options to buy up to a 20 percent equity stake in the fund management unit over the next three years. The options are ammunition for the firm's "war on talent," says Tom Taggart, spokesman for the San Francisco-based firm. He hopes that the options will become a valuable recruiting tool, much like the equity offered by Putnam and MFS.
The moves seem to indicate that the U.S.-based fund management unit is gaining greater independence from the British parent company. Speculation about a possible IPO is following like clockwork. Not so, says Taggart. He claims that the new arrangement will further integrate the management business and the bank. "We'll shortly be serving other organizations with Barclays Plc," says Taggart. Which organizations? Taggart isn't saying. Printed from: MFWire.com/story.asp?s=26059 Copyright 2000, InvestmentWires, Inc. All Rights Reserved |