Barclays Capital, the fast growing investment banking arm of the UK's Barclays group, is looking to recreate the partnership models of Goldman Sachs and Lazard before they became listed companies.
The move is part of efforts to build a loyal cadre of senior managers as the bank goes through rapid expansion following the acquisition of Lehman Brothers' US assets 18 months ago.
BarCap's annual round of managing director promotions, now called partnership promotions, is the responsibility of a new partnership committee, led by Asia boss Robert Morrice, comprising a mix of BarCap executive committee members and senior bankers.
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