Barclays, HSBC Staff Back US Midterm Candidates
Bankers at the two British lenders donated more than $500,000 to US political candidates ahead of the November 2026 midterm elections.
Updated on Nov. 3, 2026 in Inflation
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Employees of Barclays and HSBC donated over $500,000 combined to US political candidates ahead of the midterms. The contributions were made by individual staff and through employee-funded political action committees.
Why it matters
The midterm elections will contest all 435 House seats and 35 of 100 Senate seats, and are broadly expected to be fought on economic issues. Political donations from financial-sector workers give the banking industry a measurable stake in those contests.
Federal Election Commission filings show Barclays-linked donors gave about $344,000 since the start of 2025, while HSBC staff gave over $163,000; US inflation rose to 3.7% in September 2026 from 3.4% in each of the two prior months. The source does not say how these donations relate to the inflation trend.
The players
Barclays
Barclays is a British multinational bank with substantial US operations, including in New York.
HSBC
HSBC is a British multinational bank with major US hubs in New York, San Francisco and Miami.
The details
Alexander Lynch, investment banking chairman at Barclays, contributed $70,000 to the House Victory Project. Mark Schuermann, head of public affairs in the US at HSBC, donated around $18,000 to the bank's political action committee, which is financed by voluntary employee donations.
Timeline
Beginning of 2025: start of the period covered by the donation counts.
September 2026: US inflation rose to 3.7%.
November 3, 2026: US midterm elections held.
Market Dynamics
Employer-linked political giving by staff of foreign-owned banks is tracked through Federal Election Commission contribution reporting for individual donors and employee-funded political action committees. Inflation at 3.7% in September 2026 places the midterm debate in a context of rising consumer prices.
Rising inflation, which reached 3.7% in September 2026, raises everyday costs for households, and the midterms are expected to focus heavily on the economy. Voters will see how those economic conditions affect the candidates they choose on November 3, 2026.
The takeaway
Political giving by bank employees offers a visible sign of how the financial sector is positioning itself ahead of a midterm election where the economy is expected to dominate. Readers tracking inflation and its political effects can follow FEC filings to see how contributions change as the election approaches.
Further reading
For broader context on rising consumer prices behind the midterm debate, see Inflation.
Source note: This article includes information reported by CityAM.
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