Pros
Compensation is good but not the best as compared to other captive untis (like other British and American banks - like BoA, Morgan Stanley, RBS, JPMC). Compensation is peanuts as compared to the amount of work that one is made to do. There is work from home options but seldom. Hike is above industry average, but many are sacrificed for others to get a decent hike. Trainings are good.
Cons
Heavy politics. Need to use all the talent not to do productive technical work but to save skin and avoid from getting trapped. Very ugly competition at top level that percolates down. Need to fight with peers in other teams only because the bosses are competitive and fighting out. Worked in several banks prior to this, and never experienced a culture as bad. Work pressure is no less, as they make a person do 2-3 persons' work. Growth is slow as it is in any captive unit. No one is helpful. No one likes questions being asked. Manager does not like if you ask him/her questions. Manager does not like even if you do not ask him something and ask someone else. Huge resource problems. You are expected to do work, but never provided with resources. Some managers are very psycho. They make life of their employees difficult only so that they can help them with resources later and get a sense of achievement. Work hours are extremely stress-full, but after that you are not disturbed till next day (but its difficult to get rid of the thoughts of activities that happened throughout the day).