Few would envy Martin Taylor having to choose an adviser to sell BZW’s equities and corporate finance divisions. After a year of reassurances that all of BZW was safe at Barclays, there would be enough recriminations to deal with from reversing his position. Having to appoint a rival to oversee the sale would just add insult to injury.
But to the bankers in the divisions to be sold, the appointment of Goldman Sachs was taken as one step short of outright treason (which it would have been had Taylor instead hired UK rival NatWest Markets).
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