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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Marcus Agius, Barclays’ chairman for the past five years, has resigned amid fierce political and shareholder criticism over the bank’s role in attempting to manipulate interbank lending rates, an act that he said has “dealt a devastating blow to Barclays reputation”.
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Bob Diamond is banking that the Libor manipulation scandal will trigger industry-wide litigation to even out the pain. -
The first tax-exempt domestic infrastructure bond has been issued in Brazil. Concessionária Rodovias do Tietê, a toll road operator, has issued R$650 million in 12-year debt.
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Some are calling him ‘bloated Bob’. Others prefer the prefix ‘bountiful’. I would suggest the adjectives ‘baffling’ and ‘burnished’.
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Nomura offers some very qualified praise for Barclays in its predictions for first quarter 2012 results.
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Barclays Wealth has reinvented itself in just five years. With the benefit of heavy investment, it has developed a unique model of interacting with clients – using behavioural finance. It is targeting only high-net-worth clients and expanding globally.
