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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In the first of a regular new column featuring heads of funding at leading financial institutions, Barclays’ new treasurer talks to Alex Chambers about the early days of his new role and how its demands differs from his experience as an investment banker.
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Wealth management arm put on course to “grow by multiples”. The appointment of Thomas Kalaris as chief executive of Barclays Wealth Management signals the start of a rapid build-up.
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Barclays Capital has increased its staff by 30% to 7,000 in the past 18 months - and there's more to come. The objectives - more client contact and a broader product range - seem to be attainable. What's not so clear is whether increased revenues will outweigh the costs of this headlong expansion and how it will transform the firm's culture.
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Barclays Capital has appointed Christoph Cleve as a managing director and member of its board in Frankfurt, reporting to Rainer Stephan, chairman of the German board. Cleve joins a BarCap team that is expanding in an effort to increase its corporate finance coverage in the German market.
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Deutsche Bank's hire of Gary Jenkins, former global head of credit research at Barclays Capital, and his former European strategist colleague, Jim Reid, is a coup for the bank and a big blow for BarCap, which had wanted the pair to return.