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’ latest round of restructuring is hitting the investment banking business hard, but the future for the wealth management business might not be so bright either.
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Nationality: Ghanaian
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Someone else who also recently stepped down is Sir Hector Sants, the former head of compliance at Barclays. Sants, a one-time Credit Suisse banker, ran the wholesale division of the British regulatory authority, the Financial Services Authority, from 2004 to 2007. He was then promoted to run the whole organization, which he did until the FSA was dismantled in the middle of 2012.
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The collapse of Lehman Brothers was the best thing to happen to Barclays. Euromoney investigates.
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Barclays announced a £12.8 billion capital hole on Tuesday, along with a sharply dilutive rights issue, that threatens to undercut CEO Antony Jenkins’ turnaround strategy, further bloody Bob Diamond’s legacy and challenge the bank’s US franchise.
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Returning to the category of imperial CEOs, most would agree that Bob Diamond, the former Barclays chief, was an earlier poster boy: a Do-it-my-way-or-take-the-highway kind of boss.