Barclays selects JPMorgan as new broker

Barclays has picked JPMorgan to replace Credit Suisse as a corporate broker amid a review of the bank’s performance by new Chairman John McFarlane. Deutsche Bank retained its advisory role.

Bloomberg News reports that JPMorgan was chosen after Barclays invited pitches for the two broking positions last month, a company spokeswoman said on Wednesday. Bank of America, Goldman Sachs and UBS also bid, a person with knowledge of the matter said May 28.

McFarlane, 68, 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. 

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Barclays Selects JPMorgan to Replace Credit Suisse as Broker

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