Veteran American banker signals further streamlining of investment operation as he vows to strengthen customers’ trust in British companyThe American banker Jes Staley has been named as the modern chief executive of Barclays on a £10m pay package and immediately played down expectations of a revival of the group’s troublesome investment banking arm.
The 58-year-conventional arrives at the bank amid a restructuring that is expected to result in 19000 job cuts, as the investment bank is scaled back. Barclays is also preparing for modern rules requiring riskier investment banking businesses to be ringfenced from high-street banking operations. Related: Jes Staley: client guy CEO takes charge at Barclays Related: Jes Staley: who is the man tapped to be Barclays' next chief executive? Continue reading...
Source: theguardian.com