Barclays granted $12.6 billion in loans to its former employees to stop them from quitting, Bloomberg reports. The employees used the loans to establish Cayman Islands-based Protium Finance, which acquired $12.3 billion of bad assets from Barclays.

The management team, initially comprising 45 former Barclays’ employees, provided $50 million of the loan. The Protium deal was done to reduce Barclays’ credit-market exposure and to produce a stable risk-adjusted return profile for shareholders.

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