Clément Perrette reflects on his time at Barclays

Clément Perrette

With over twenty five years of pertinent leadership experience within the global finance sector, Clément Perrette has parlayed his expertise within executive positions amongst world-renowned banking institutions.

Before leading EUR rates market making franchise, Perrette spearheaded in the first part of his career development of STRIPS desks across various banking institutions throughout Europe.

Within these roles, Perrette executed forward-thinking expansions, integrated government bonds and Interest Rates derivatives desks , and developed leading market making franchise that brought him to a transformative career spanning in excess of one decade with global finance leader Barclays.

During his time with the ever-evolving company, beginning in 2002, Perrette became the Head of EUR Long-End Rates Trading, and developed the Barclays’s STRIPS desk, leveraging his previous experience to land Barclays Capital in the top spot in terms of franchise rates in STRIPS, Long-End Rates trading, and EUR Swap Trading.

During this transformative time in the investment banking industry, many traditional investors were looking to expand their portfolios through alternative low-risk products, and seeking new products to offer their clients, customers, and investors.

Taking cues from investment trends worldwide, savvy Investment Banks recognized the potential in offering an extensive array of varied products. Always searching for innovative ways to provide new fruitful opportunities to clients, Barclays recognized the benefits of offering expanded financial market products, and remained open to public desire for these products throughout the Golden Age of Technology, and subsequent globalization.

During his tenure at Barclays, Clement Perrette experienced the newly burgeoning cultures created by the globalization of the investment market, and the ways in which technology brought forth a brand new global culture, rather than localized trends.

Throughout this time, as many companies pivoted to technology focused infrastructure and expansion, Barclays expanded upon this shift by combining the growth of an online presence, in conjunction with global physical expansion, and focused on providing excellent face-to-face customer service experiences that rendered the company uniquely forward-thinking, yet traditionally hospitable.

With a deep rooted history in customer service, Barclays was able to provide unprecedented customer experiences at a time when many competitors focuses on less personable methods of consumer interaction.

From the inception of the company, dating back to two goldsmith bankers conducting business in 1690, Barclays has sought to provide a myriad of financial products, and has proudly maintained core values that have translated the test of time.

In 1937, Barclays became identified by the inclusion of their official Coat of Arms, the Spread Eagle, which was dated back to the company’s initial location at 54 Lombard Street in London in 1728. At a time when many people were illiterate, many buildings adapted icons on their facades as a means of identification.

For Barclays, the usage of the Spread Eagle was a means of inviting individuals from all backgrounds to their location, with the Spread Eagle acting as a welcoming beacon during the company’s fledgling days. Proud of this inclusivity, the Spread Eagle became the official Coat of Arms for the company in 1937, marking an integral milestone in Barclays history.

Focused on continued innovation, growth, and providing services not yet mainstream, Barclays introduced the United Kingdom’s first cash machine in 1967. With great intrigue, hordes of people attended the unveiling of this innovative machine, cementing Barclays as a leader within a now burgeoning finance sector.

With over three million cash machines on a global scale currently operational, Barclays’ inaugural cash machine was certainly a transformative leap toward banking modernization.

Ten years after the celebratory first ATM machine became operational at Barclays in North London, the company introduced Personal Bankers. With an initial pilot program offered at six local branches, Barclays considered ways in which Personal Bankers could bridge the gap between Managers, who spent large amounts of their time with corporate clients, and tellers, who could not maintain short queue times by answering all customer queries.

By introducing these expert-driven roles, Barclays once again provided innovative solutions for the masses. During this time, as increasing amounts of private individuals gained spending power, and amassed wealth, a new class of initial investors was born.

No longer an activity reserved for the higher classes, the normalization of personal investments required education for fledgling investors. Those seeking to maximize on their hard-earned capital required leadership, and Barclays considered this amenity to be the right of every investor, big or small.

Thus, through implementation of Personal Bankers, the company was able to once again parlay their stellar reputation for commitment to customer service.

In 1987, Barclays introduced Barclays Connect, the United Kingdom’s first debit card program. Met with some initial hesitation from local retailers, and viewed by rigid traditionalists as a dangerous prologue to a new trend of account cards, the forward-thinking team at Barclays recognized the vast benefits of launching this system for the personal retail market.

In less than nine months since inception, over one million debit cards were dispersed, proving this inventive venture a raving success.

Throughout Clément Perrette’s tenure with the global finance leader between 2002 to 2013, many integral moments occurred that would become cemented in the company’s expansive historical archives. In a historical move in 2005, Barclays relocated their bespoke Lombard Street flagship location to the 13th-tallest skyscraper in the United Kingdom, One Churchill Place.

In 2008, Barclays once again made history with the acquisition of the investment banking and trading divisions of Lehman Brothers. In a purchase that included Lehman Brothers’ New York City headquarters, Barclays took over the Midtown Manhattan headquarters, along with newly required responsibility for over 9,000 Lehman employees.

With continued globalization, and the prevalence of the internet replacing many traditional investment banking ventures, Barclays recognized the importance of streamlining their branding in 2012. The trading names Barclays Capital, Barclays Wealth and Barclays Corporate were simplified to the cleaner, sleeker, modernized “Barclays”.

In the company’s effort to modernize brand image, this updated streamlining of names propelled the company as a singular-named global leader, recognizable as a household name.

Through changing cultural conditions, financial ebbs and flows, strained international relationships, globalization of investment banking, and the implementation of technology within the banking industry, Barclays has remained a leader within the field. By spearheading innovative inventions, as well as focusing on providing continued bespoke customer service experiences, Barclays has withstood the test of time.

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