Barclays new CEO will focus on advisory operations at investment banking

Jes Staley Interview Pic

Barclays' new CEO Jes Staley will prioritize the investment bank’s advisory and execution operations and accelerate sales of unwanted assets, according to the bank’s Deputy Chairman Mike Rake.

Bloomberg News reports that the advisory and execution business, which includes mergers and acquisitions, debt capital markets and equity capital markets, will focus on London and New York, Rake said in an interview with Anna Edwards on Bloomberg Television on Friday.

Staley 'will bring a lot of knowledge, confidence' to Barclays and 'we should be able to end up with a very good, reputable, profitable investment bank', Rake said. 'We can really build on something in investment banking. It’s much more about advisory and execution than it is about the things that have been criticized'.

Staley, 58, was named the successor to Antony Jenkins, a retail banker, on October 28 with a mandate to improve profitability at the securities unit of the lender. 

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

Barclays Investment Bank to Focus on Advisory, Mike Rake Says

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