Barclays
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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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Barclays has made visible progress across the board in environmental, social and governance, advising on large sustainability financings, enhancing its sustainable mortgages and offering more support to green startups.
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Bidding $2.5 billion for the bulk of Credit Suisse’s sub-Saharan Africa ultra-high net-worth private bank book 18 months ago has been a ‘game changer’ for Barclays in the region, the UK bank’s Africa market head Amol Prabhu tells Euromoney.
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Banks including NatWest and JPMorgan are struggling to put out reputational risk-management fires.
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When Credit Suisse is taken over by UBS, it’s likely that the new parent’s appetite for structured private credit will be significantly different to that of the institution it is absorbing. Two banks in particular are waiting for the opportunity that follows.
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Just back from Davos, the bank’s new head of sustainable finance says the industry needs to do more, and Barclays needs to do more on transition.
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Euromoney meets Damian Payiatakis, Barclays Private Bank’s head of sustainable and impact investing, to talk about how quiet private wealth has been so far at the UN Climate Change Conference.