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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.
  • Amanda Staveley earned an astonishing £30 million fee for her role in helping to secure Abu Dhabi’s £3.5 billion investment in Barclays in 2008, a deal on which Sheikh Mansour made a profit of more than £3 billion. Euromoney reveals the extraordinary tale behind that trade, the battle for £110 million in fees paid by Barclays to Mansour, and just how close-run a deal which saved the bank from part-nationalization was – which is currently the subject of an investigation by the Serious Fraud Office.
  • After the February unveiling of an ambitious turnaround strategy, Barclays' CEO Antony Jenkins faces new risks to earnings, uncertainty over the direction of the bank's US investment banking arm – core to its global footprint - and market pressures to accelerate capital accumulation.
  • Euromoney’s investigation into Barclays’ Gulf deals reveals the apparent appetite of CIC, China’s sovereign wealth fund, for securities in the UK bank in the 2008 crisis. This casts a light on the shifting sands in the portfolio strategies of sovereign funds in recent years.
  • The departure of the investment banking chief heralds more uncertainty for Barclays.
  • Euromoney can reveal that advisers to Sheikh Mansour were courting other strategic parties to invest in Barclays at a time when the bank was marketing the importance of the cornerstone Abu Dhabi investor, raising questions about market confidence and disclosure. The revelations also shed light on the frustrations of China Investment Corporation about the transaction and the fund’s approach to dealmaking.
  • Euromoney reveals how former British politician David Mellor, adviser to Amanda Staveley’s PCP Capital Partners, agitated for his cut of the Barclays fee, and the role of the former head of the CBI Digby Jones.