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Barclays to name Jes Staley as new chief executive | Barclays to name Jes Staley as new chief executive |
(35 minutes later) | |
Barclays is soon to appoint former JP Morgan banker James "Jes" Staley as its new chief executive. | Barclays is soon to appoint former JP Morgan banker James "Jes" Staley as its new chief executive. |
Sources confirmed to the BBC that Barclays board members had agreed to Mr Staley's new role with the British banking group. | Sources confirmed to the BBC that Barclays board members had agreed to Mr Staley's new role with the British banking group. |
Mr Staley is currently working at BlueMountain Capital Management in the US. | Mr Staley is currently working at BlueMountain Capital Management in the US. |
Barclays' previous chief executive, Antony Jenkins, was fired in July after falling out with board members. | |
BBC business editor Kamal Ahmed tweeted: "Barclays board agree Jes Staley to be new CEO. Ex JP Morgan banker now needs regulatory clearance. Barclays to keep investment bank focus." | BBC business editor Kamal Ahmed tweeted: "Barclays board agree Jes Staley to be new CEO. Ex JP Morgan banker now needs regulatory clearance. Barclays to keep investment bank focus." |
The hedge fund manager, reports the Financial Times, could bring "a dramatic change" of approach to Barclays. | The hedge fund manager, reports the Financial Times, could bring "a dramatic change" of approach to Barclays. |
The news comes a day after Barclays' executive chairman John McFarlane stressed the importance of a strengthened focus on investment banking in Britain, telling reporters that European investment banks should merge to create a regional "champion" to compete with US rivals. | |
Mr McFarlane became chairman after Antony Jenkins' departure, until a permanent successor was found to become chief executive. | |
Subject to regulatory approval, Jes Staley would be joining Barclays amidst a restructuring. It announced in 2014 that it would be cutting thousands of jobs and shutting some of its retail banking branches. | |
In July, Barclays bank reported a 25% rise in statutory pre-tax profits to £3.1bn for the six months to the end of June. During the period, the bank also set aside £850m to compensate customers - including for further claims for mis-sold payment protection insurance (PPI). |