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<ul><li><a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink">Global Trends Festival</a> is one of the world's most prestigious events which will be live from Oct 19-23.</li><li>While nobel laureates, some of the biggest political and corporate icons will provide thought leadership, it's a great platform to network with CXOs from around the world.</li><li><a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink">Global Trends Festival 2020</a> is presented by <a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink"></a><a href="https://aws.amazon.com/" data-type="tilCustomLink">AWS</a>.</li><li>Get your tickets now from <a href="https://in.bookmyshow.com/events/business-insider-global-trends-festival/ET00137578" data-type="tilCustomLink">BookMyShow</a>.</li></ul>In five decades, the amount of greenhouse gases released in the production of a glass of milk in the US has halved. Thanks to new technologies, animals are not only healthier and more productive, but the livelihood of many people in poorer parts of the world is also improving," believes Kristin Peck, President of <keyword id="1184921" type="COMPANY" weightage="20" keywordseo="Zoetis">Zoetis</keyword>. <ul><li>Zoetis has annual revenues of around USD 6 billion and employs more than 10,000 people worldwide. </li><li>The need for productivity and efficiency in animal husbandry has never been greater than now, says Peck.</li><li>Peck actively supports women. She is the author of the book "Perseverance" about motherhood. Together with her husband, she has gone through a long and traumatic journey, including five miscarriages, several infertility treatments and a story with a murderous nurse.</li></ul>Out of love for animals Zoetis is the world's largest manufacturer of vaccines and medicines for domestic and farm animals. Since January 2020, it has been headed by Kristin Peck. Previously, she led the company's global production and supply organisation, and from 2015 she was head of the company in the USA. Since 2018, Peck also managed the company's corporate strategy and development activities, including acquisitions. Kristin Peck grew up on her parents' farm in Connecticut, surrounded by dogs, cats, horses and birds who were treated like family members. Her mother bred Morgan horses and her father helped organise the rodeo. Her first job, still in high school, was with Zoetis, which she manages today. In an interview for the American “Successful Farming” magazine, she stresses that at some point in her life she realised how important it is for people to create new jobs. - As a Georgetown University student reading History and Spanish, I spent a semester teaching Spanish to children in Ecuador. I took care of them and taught them the language so that their parents could find work. I soon realised that learning Spanish would not improve the future of these children if there was not enough economic growth to employ their families in these areas. That led me to take the business path as a way of creating opportunities for people," says Peck. In an interview with the 'SF', the President of Zoetis points out that the need for productivity and efficiency in animal husbandry has never been greater than it is today, because the constraints resulting from the pandemic, the growing world population and the need to tackle environmental problems are still growing. The future lies in digital solutions. Sensors provide more information about the health of farm animals, and genetic testing is becoming increasingly important as producers can choose the healthiest and most resistant animal breeds. - We also see greater emphasis on reducing the carbon footprint. We are trying to help producers improve production while using less resources to keep healthier and more productive animals. This is all thanks to new technologies and much better production methods. Those used in recent decades show the power of science and technology. In the 1970s, American farmers had to raise 140 million heads of cattle in order to meet consumer demand for beef. Today it is 90 million. Between 1964 and 2014, the amount of greenhouse gases associated with the production of a glass of milk decreased by 50%. Thanks to genetics, data, technology and new innovations, we will be able to improve the sustainability of livestock production," says Peck. One example of the impact of science and technology on human life is the African Livestock Productivity and Health Advancement (ALPHA) programme run by Zoetis in sub-Saharan Africa. Under this initiative, Zoetis is increasing the availability of veterinary medicines, establishing permanent diagnostic networks and providing training and education to local farmers. In these areas, the population is extremely dependent on their livestock. It often turns out that a lack of vaccination, or an incompetent diagnosis of the disease leading to the infection of animals, means hunger for the entire families. Zoetis during COVID-19 Zoetis, like most companies in the world, faces the consequences of the coronavirus pandemic. Kristin Peck had to face it less than three months after she took over the company. Zoetis is a big organisation. It has annual revenues of around USD 6 billion and employs over 10,000 people worldwide. As the analysts stress, the company has a very balanced revenue policy, as it is divided 50/50 in terms of products for pets and livestock. Unlike many pharmaceutical companies, Zoetis is not dependent on any particular product. The best-selling drug, Apoquel, generated less than 10% of all sales in 2019. Kristin Peck pointed out at the results conference that Zoetis expects worse figures this year, because some 3% of sales used to come from the Chinese market, and the global economic slowdown could affect the results. But Peck doubts that the coronavirus will stop the long-term trend of eating more protein. Even if it does, Zoetis will benefit from selling its products aimed at poultry. Kristine Peck and helping women Kristine Peck received the “Feather In Her Cap 2019” award for her involvement in the development of her employees, launching a leadership programme at Zoetis that provides training, mentoring and participation in strategic projects. Kristin Peck is also personally a mentor for many women in Zoetis. Peck herself has written a book on motherhood and her experiences with it. Together with her husband, she has gone through a long and traumatic journey, including five miscarriages, a surrogate mother's miscarriage, several infertility treatments and a story with a murderous nurse. Kristin Peck has two children today. In her book she encourages women never to give up their dreams of building a family. - Many women go through the same things, but do not talk about it. Therefore, the aim of this book is to help women who have fertility problems so that they do not feel lonely, and to build a certain dialogue about this," says Peck. The book was based on Kristin's notes, which her husband encouraged her to record. Peck wrote down all of her thoughts and poured difficult emotions on paper. The e-book was published by Kindle Publishing. President Zoetis points out in her memoirs that she wanted sympathy from those around her, but often received good advice in return, which was neither helpful nor comforting. "'People often said to me: You need to relax, some things could work properly, if it were not for your stress. I just wanted to hear: I'm sorry, I love you. I am here for you. What can I do to help you?" - writes Peck. All the proceeds from the book are donated to charity. SEE ALSO: <a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink"></a><a href="https://www.businessinsider.in/business/news/watch-ubers-apac-head-pradeep-parameswaran-open-up-about-sustainable-mobility-for-all-at-the-global-trends-festival-2020/articleshow/78493912.cms" data-type="tilCustomLink">Watch Uber’s APAC head Pradeep Parameswaran open up about sustainable mobility for all at the Global Trends Festival 2020</a> <a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink"></a><a href="https://www.businessinsider.in/international/news/sebastian-thrun-to-speak-at-the-business-insider-global-trends-festival-2020/articleshow/78432049.cms" data-type="tilCustomLink">Sebastian Thrun to speak at the Business Insider Global Trends Festival 2020</a> <a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink"></a><a href="https://www.businessinsider.in/business/news/sadhguru-jaggi-vasudev-at-global-trends-festival-2020-simplifying-sustainability/articleshow/78271251.cms" data-type="tilCustomLink">Sadhguru at Global Trends Festival 2020: Simplifying Sustainability</a>

Watch Kristin Peck, President of Zoetis at Global Trends Festival 2020

<div class="KonaFilter image-container display-table"><div><div class="image on-image">REUTERS/Yuri GripasJes Staley, the chief executive of Barclays.</div></div></div><ul class="summary-list"><li>Barclays has raised the bar for hiring outsiders and isn't filling vacancies after people leave, according to five sources familiar with the situation. Some of those sources described it as an ongoing, informal hiring freeze that's hitting areas including investment banking and FICC trading. </li><li>The UK-based bank shed 3,000 jobs company-wide in the second quarter and has upped its 2019 cost-cut outlook. Barclays is pushing to hit a return target set by CEO Jes Staley, and its bonus pool shrank in the first half. </li><li>When asked directly during an early August analyst call if there was a hiring freeze, the bank's finance director, Tushar Morzaria, said it has been "very, very selective" but that a freeze was "probably not really the right way of doing it." </li><li><a href="https://www.businessinsider.com/prime">Visit BI Prime for more stories</a>.</li></ul>Barclays has raised the bar for hiring outsiders and is leaving vacant roles unfilled - resulting in what some insiders say amounts to an informal hiring freeze for investment banking, FICC trading, and certain back-office roles - according to five sources familiar with the situation.Those descriptions show the on-the-ground impact of an approach that Barclays executives in recent months have stopped short of characterizing publicly as a blanket freeze.A <a href="https://www.businessinsider.com/barclays-exec-tim-throsby-town-hall-art-mbanefo-2019-3?r=US&amp;IR=T">shakeup in late March</a> included the shock ouster of investment bank chief Tim Throsby, who had ramped up managing director hiring since joining in 2016. His deputy, Art Mbanefo, <a href="https://www.businessinsider.com/barclays-art-mbanefo-leaving-2019-4?r=finance-teaser">exited soon after.</a> Ravi Singh <a href="https://www.businessinsider.com/barclays-just-lost-two-more-executives-as-ravi-singh-departs-after-only-four-months-2019-4">left </a>in April just four months after joining Barclays, along with David Simpson, an MD in London also under Mbanefo. Guy Saidenberg, head of distribution and structuring for markets, <a href="https://www.businessinsider.com/barclays-guy-saidenberg-leaving-may-1-stephen-dainton-memo-2019-5?r=finance-teaser">exited in May.</a>One source familiar with the situation told Business Insider the firm has upped the standard for making external hires.Two other people familiar with the situation said Barclays is not replacing some employees. The bank's fixed income, currencies, and commodities trading business is not filling roles of people who leave, one of the people said. Another source familiar with the matter described a holding pattern for hiring for some back-office roles in the US.Three of the five sources said the process has been viewed internally as an informal hiring freeze that has been in place for several months.Barclays is keeping a tight leash on pay, particularly for investment and corporate banking, and set aside less so far this year for bonuses. That comes as it cuts costs to hit return targets set by CEO Jes Staley. A list of banks have been curbing hiring or cutting jobs as they ride out trade tensions, economic uncertainty and a souring outlook for interest rates. The UK-based bank shed 3,000 jobs company-wide in the second quarter and upped its 2019 cost-cut outlook, and is meanwhile navigating uncertainty around <a href="https://www.businessinsider.com/category/brexit-insider">Brexit</a>. Still, it has announced some high-profile strategic hires including people that came onboard after Throsby's exit. A Barclays spokeswoman declined to comment.Read more: <a href="https://www.businessinsider.com/wall-street-headcount-revenue-fell-first-half-2019-coalition-data-2019-9">Headcount at the world's largest investment banks shrank by 1,500 in the first half of 2019, and equities trading took the brunt of it</a><h2>'Very, very selective'</h2>To be sure, the firm continues to advertise for positions online. And it could not be determined precisely how many people have been affected by Barclays' hiring strategy, or how many divisions might be taking that approach.Kristin DeClark and Taylor Wright, co-heads of Barclays US equity capital markets, joined the firm from Deutsche Bank and Morgan Stanley, according to industry records. DeClark <a href="https://www.businesswire.com/news/home/20190328005539/en/Barclays-Appoints-Kristin-DeClark-Co-Head-ECM-Global">was announced the day after</a> Throsby's exit became public, while Wright was announced <a href="https://www.businesswire.com/news/home/20190523005810/en/Barclays-Appoints-Taylor-Wright-Co-Head-ECM">late May</a> and came on in August. And Bob Peck, a veteran internet analyst, <a href="https://www.businesswire.com/news/home/20190319005538/en/Barclays-Appoints-Robert-Peck-Chairman-Global-Internet">joined</a> Barclays as the chairman of global internet banking from Credit Suisse. That move was announced before Throsby left, and Peck started in June. When it comes to the back-office roles, Barclays has been shifting some of its US operations and tech employees from New York to a large campus it purchased in 2017 and <a href="https://www.businesswire.com/news/home/20180710006059/en/Barclays-Launches-New-World-Class-Campus-Whippany-New">opened</a> last summer in Whippany, New Jersey. According to a <a href="https://labor.ny.gov/app/warn/details.asp?id=6844">public filing in early July,</a> COO and functions teams are set to move starting mid-November. Read more: <a href="https://www.businessinsider.com/credit-suisse-hiring-freeze-for-traders-research-analysts-2019-8">Credit Suisse has started an informal hiring freeze - and it's a sign of just how tough the Wall Street job market is these days</a>Analysts have pushed for clarity on hiring. When asked directly during an <a href="https://home.barclays/content/dam/home-barclays/documents/investor-relations/ResultAnnouncements/2019HYResults/20190813-Barclays-Q219-Results-Call-QA-Transcript.pdf">early August call</a> if there was a hiring freeze, the bank's finance director, Tushar Morzaria, said it has been "very, very selective" but that a freeze was "probably not really the right way of doing it." Barclays has been "only really hiring for roles that we really need, given the income environment," he said. The bank has also been shrinking headcount through "natural forces" by not hiring to replace "which has been quite a successful thing for us," Morzaria also said on that call, and it would "see where that goes" in the second half.Barclays had been deploying capital into sales and trading and underwriting, but <a href="https://home.barclays/content/dam/home-barclays/documents/investor-relations/IRNewsPresentations/2018Presentations/20180928-BAML-conference-transcript.pdf">by a September 2018 call,</a> Morzaria said: "We are by and large done with that. We're happy with the level of capital allocated."Read more: <a href="https://www.businessinsider.com/latest-barclays-news-investment-bank-transformation-2019">A management overhaul at Barclays is rocking employees. Here's what we know about what's going on inside the British investment bank.</a><h2>MD departures</h2>There have been a number of high-profile departures from Barclays recently, including five investment bankers from the Americas <a href="https://www.businessinsider.com/barclays-loses-five-financial-institutions-bankers-in-one-month-2019-8">financial-institutions group,</a> Business Insider reported in August. The group had no plans to replace those departing FIG bankers, though a person with knowledge of the group's plans said at the time that promotions and recent hires may mean it ends 2019 with the same number of managing directors. Sources had said a shrinking bonus pool prompted some of those moves. Through the first half, Barclays cut money set aside for bonuses by 23% from the year prior.Barclays announced it hired Dan Zimbaldi from Evercore <a href="https://www.businesswire.com/news/home/20190618005667/en/Barclays-Appoints-Daniel-Zimbaldi-Managing-Director-Financial">in June</a> as an MD in FIG M&amp;A, and he starts in September. Separately, New York-based investment banking MD Aiden Hallett <a href="https://www.businessinsider.com/barclays-managing-director-aiden-hallett-departs-firm-after-9-years-2019-7">left in July</a> after getting promoted just months earlier. The bank named <a href="https://www.businessinsider.com/barclays-names-85-new-managing-directors-2018-12?r=finance-teaser">85 new MDs in late 2018</a>- promotions effective at the <a href="https://www.businessinsider.com/barclays-names-85-new-managing-directors-2018-12?r=finance-teaser">beginning of this year</a>. Barclays has started <a href="https://www.businessinsider.com/barclays-culling-markets-teams-after-saying-no-plans-for-cuts-2019-5">culling its global markets team</a>, which spans credit, distribution, equities, and macro, Business Insider and other media outlets have reported in May. The bank <a href="https://home.barclays/content/dam/home-barclays/documents/investor-relations/reports-and-events/annual-reports/2018/2018-barclays-plc-annual-report.pdf">said</a> it had 85,000 employees globally at the end of 2018.Read more: <a href="https://www.businessinsider.com/barclays-loses-five-financial-institutions-bankers-in-one-month-2019-8">Barclays has lost a quintet of FIG bankers over the past month - and it shows how Jes Staley's bonus cuts may be affecting morale</a><h2>Striving for a return target</h2>Barclays wants to hit above a 9% return on tangible common equity this year and 10% in 2020, but <a href="https://www.businessinsider.com/barclays-analysts-ask-about-mismatch-with-ceo-jes-staleys-return-targets-2019-4">analysts had noted</a> their own predictions didn't line up. Activist investor Edward Bramson has meanwhile been pressuring the bank to pare back investment banking, though in May failed to <a href="https://www.businessinsider.com/edward-bramson-says-fail-in-attempt-get-onto-barclays-board-2019-5">nab a board seat</a>.Hiring across Wall Street is typically more common in the first half, though that has changed somewhat in recent years thanks to rising competition and the tightest US labor market in half a century.Industry headcount across investment banking, equities trading, and FICC continued to fall in the first half of 2019 while revenue slumped, <a href="https://www.businessinsider.com/wall-street-headcount-revenue-fell-first-half-2019-coalition-data-2019-9">Coalition data tracking</a> the world's biggest banks showed on Thursday. The Barclays hiring shift comes as the broader industry grapples with trade tensions and global economic uncertainty, and technology that has reduced demand for higher-touch trading. And banks have added pressure on what they can make from lending after the <a href="https://www.businessinsider.com/federal-reserve-cut-interest-rates-first-time-since-resession-2019-8">Federal Reserve</a> started cutting already historically low US interest rates in August.Deutsche Bank is <a href="https://www.businessinsider.com/the-latest-deutsche-bank-to-slash-18000-jobs-in-reshuffle-2019-7">slashing 18,000 jobs</a> and exiting businesses including equities trading. Barclays remains "committed" to US and European equities, Staley said on a second-quarter earnings call, and picked up some $20 billion in <keyword id="46801" type="COMPANY" weightage="60" keywordseo="prime">prime</keyword> brokerage assets <a href="https://markets.businessinsider.com/news/stocks/deutsche-bank-loses-20-billion-in-balances-to-barclays-reports-2019-7-1028385855">reported</a> to come from Deutsche Bank. Credit Suisse has an <a href="https://www.businessinsider.com/credit-suisse-hiring-freeze-for-traders-research-analysts-2019-8">informal hiring freeze</a> in place across parts of its sales, trading, and research unit, Business Insider reported in early August. <a href="https://www.businessinsider.com/citi-is-closing-a-1-billion-credit-opportunities-direct-lending-team-2019-8">Citigroup</a> is laying off hundreds across equity and fixed-income trading, according to reports <a href="https://markets.businessinsider.com/news/stocks/citigroup-hundreds-of-jobs-cut-in-2019-revenue-slump-to-stay-2019-7-1028397407">in late July.</a>Barclays' <a href="https://markets.businessinsider.com/stocks/barclays-stock">shares</a> have fallen 56% in five years while a large banking sector exchange-traded fund has <a href="https://markets.businessinsider.com/etfs/spdr-s&amp;p-bank-etf">risen</a> 22%.Read more: <a href="https://www.businessinsider.com/citi-is-closing-a-1-billion-credit-opportunities-direct-lending-team-2019-8">A top Citigroup executive is departing as the bank winds down a secretive $1 billion business amid competition from private equity</a><a href="https://www.businessinsider.com/intelligence/10-up-and-coming-fintechs-2019?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_leadgen&amp;itm_content=finance&amp;itm_campaign=10-up-and-coming-fintechs-2019"></a> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/what-causes-hurricanes-irma-harvey-jose-sahara-africa-easterly-atlantic-2017-9">Most hurricanes that hit the US and Caribbean islands come from the same exact spot in the world</a></h3> <div> </div> </div>

Barclays has raised the bar for external hires so high that some insiders are calling it an informal freeze. That comes as departures and shrinking bonuses roil the bank.

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Watch Kristin Peck, President of Zoetis at Global Trends Festival 2020

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Barclays has raised the bar for external hires so high that some insiders are calling it an informal freeze. That comes as departures and shrinking bonuses roil the bank.

Rebecca Ungarino,Dakin Campbe…

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