Nov 1, 2021
New Barclays chief ‘Venkat’ emerges from Jes Staley’s shadow
Within weeks of Jes Staley starting as chief executive of Barclays in late 2015, he raided his former employer JPMorgan for a pair of executives whom he described as "Two of the best bankers I know". Staley brought Venkatakrishnan into Barclays as chief risk officer and his first move was to order a comprehensive review of the bank's exposure to bad credit card debt. Last year Barclays gave the clearest signal to the outside world that Venkatakrishnan and Compton were the two internal front-runners to succeed Staley. Staley's decision to champion the investment bank had brought criticism, notably from activist investor Edward Bramson, who waged a three-year campaign against the bank and its chief. One former Barclays executive said Venkatakrishnan faced the same tough questions as Staley when it came to the bank's future.
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