Barclays boss - people jumped to conclusions

Barclays Canary Wharf

Barclays Chairman John McFarlane said some observers of the lender have 'jumped to conclusions' about the firm’s strategy if former senior JPMorgan banker Jes Staley becomes chief executive officer.

Bloomberg News reports that the bank is close to hiring Staley, a former head of JPMorgan’s investment bank, a person with knowledge of the matter has said.

'If we hire him, we’re not hiring an investment banker', McFarlane said on the sidelines of a conference in London on Thursday. 'He’s a client guy” who “started out as a commercial banker, like me. We might have hired someone who’s run an investment bank; well, I’ve run an investment bank. People have jumped to conclusions'.

The chairman is seeking a CEO who can boost returns at the securities unit, while navigating rules and investigations that have eroded the firm’s profits.

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

Barclays Chairman Says People `Jumped to Conclusions' on Staley

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