Feb 24, 2020
Barclays set to kick off hunt for next chief executive
Barclays is preparing to start the search for a new chief executive to replace Jes Staley, making it the latest European bank to look for new leadership at a time of upheaval in the industry's top ranks. Mr Staley, 63, who has led the bank since December 2015, has told colleagues he expects to leave the group by the end of next year, according to two people briefed on the bank's plans. The search comes amid a flurry of changes at the top of European banks, with UBS, Credit Suisse and Royal Bank of Scotland recently appointing new chief executives. The Barclays search will focus on executives with experience of investment banking because the London-based lender derives roughly half its revenue from its corporate and investment bank, the people said. Since joining as chief executive at the end of 2015, Mr Staley, a former JPMorgan banker, has put Barclays' investment bank on a stronger footing, helping the company fend off attacks from activist investor Edward Bramson, who wants the unit to be scaled back.
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