Discover your dream Career
For Recruiters

Barclays' cuts include a longserving female financial sponsors MD

As we reported earlier this month, Barclays is cutting "a few hundred underperformers". They include junior bankers and members of Barclays' sustainable banking team. They also include a female managing director in the London financial sponsors group.

Multiple sources say Olga Tavolzhanskaya, a financial sponsors-focused MD at Barclays is leaving. Both Barclays and Tavolzhanskaya herself declined to comment. 

Tavolzhanskaya spent nearly 15 years at Barclays and became an MD in 2016. It's though that her exit has been on the cards for a while, but has been expedited recently.

Barclays is cutting £188m ($236m) in costs from its investment bank by 2026. While it's cutting in London, it's still hiring senior bankers in New York after losing a raft of ex-Lehman people last year. Recent New York hires include Alejandra Fernandez, a former executive director at JPMorgan, who joined as a managing director this month.

Tavolzhanskaya's disappearance in London may bode badly for financial sponsors bankers everywhere. Banks have been waiting for financial sponsors deal activity to revive. In theory, this is about to happen (UBS recently hired Biliana Barboutova from Deutsche Bank for this reason). Tavolzhanskaya's exit suggests bankers are also trimming costs while they wait.

Have a confidential story, tip, or comment you’d like to share? Contact: +44 7537 182250 (SMS, Whatsapp or voicemail). Telegram: @SarahButcher. Click here to fill in our anonymous form, or email editortips@efinancialcareers.com. Signal also available.

Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t.)

Photo by Joshua Lawrence on Unsplash

author-card-avatar
AUTHORSarah Butcher Global Editor

Sign up to Morning Coffee!

Coffee mug

The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.

Boost your career

Find thousands of job opportunities by signing up to eFinancialCareers today.
Recommended Articles
Recommended Jobs
Emagine Consulting
Regulatory Reporting Analyst (m/f/d)
Emagine Consulting
London, United Kingdom
Deutsche Bank
Trader - Vice President
Deutsche Bank
New York, United States
Operations Project Manager
London, United Kingdom
Man Group plc
Portfolio Manager (Macro)
Man Group plc
London, United Kingdom
Elevate Partners
Investment Associate - Cimate Fund
Elevate Partners
London, United Kingdom

Sign up to Morning Coffee!

Coffee mug

The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.