Barclays said to consider replacing C Suisse and Deutsche Bank

Barclays Canary Wharf

Barclays is considering replacing its corporate brokers Credit Suisse and Deutsche Bank as new Chairman John McFarlane starts to review the lender, according to a person with knowledge of the matter.

Bloomberg News reports that Deutsche Bank and Credit Suisse have been invited to re-pitch for the advisory position, with Bank of America, JPMorgan, Goldman Sachs and UBS also bidding, said the person, who asked not to be identified because the process is private. Credit Suisse has been a broker to Barclays for 25 years and Deutsche Bank won the role in 2011.

McFarlane, 67, replaced David Walker in April, vowing to speed up the lender’s overhaul introduced under Chief Executive Officer Antony Jenkins to improve profitability and investor returns. 

To access the complete Bloomberg News article hit the link below:

Barclays Said to Review Brokers as Part of New Chairman’s Push

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