Barclays
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Top unit
Barclays: The bet that paid off
Since Jes Staley took charge of Barclays at the end of 2015, he has faced constant questions over his ability to reposition the firm as a credible force in investment banking. Sticking to his guns in the face of activist shareholder pressure, he now looks vindicated, but growing from here presents a new challenge.
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The UK’s Serious Fraud Office (SFO) charged Barclays and four former managers with fraud in June, alleging misconduct relating to two capital raising deals in 2008 and a loan to Qatar.
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The Barclays case may have saved the SFO, but the UK fraud agency needs to change the way it deals with whistleblowers.
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Austria’s best bank notched its best result to date last year on the back of a recovery in its emerging Europe operations. But while the group’s international network tended to grab the headlines, the domestic business also put in another strong showing.
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The narrative in the Albanian banking sector was unchanged last year as Banka Kombetare Tregtare (BKT) continued to assert its dominance over former market leader Raiffeisen Bank. By the end of December, the Turkish-owned lender accounted for more than a quarter of all deposits in the country and nearly 22% of overall loans, while its Austrian rival saw its share of both markets slip to below 20%.
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Tim Throsby needs to strike a balance between upheaval and stability.
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Barclays has reversed course on the regional structure it put in place last year, with new investment bank head Tim Throsby putting a global stamp on the business and also paving the way to complete its previous expansion effort.