Barclays CEO loses over $3m in 101 days

Jes Staley Interview Pic

Barclays CCEO Jes Staley has lost $3.2m in the past 101 days as the global rout in bank stocks engulfs his new employer.

Bloomberg News reports that Staley bought 2,790,000 shares at an average price of 233 pence ($3.38) on November 4, about a week after he was named CEO. Barclays has since fallen 34%, meaning his stake, originally worth $9.43m, is now worth $6.2m.

Barclays, along with most other banks in Europe and the U.S., has plunged this year as a raft of concerns from falling oil prices to slowing growth in China have come to the fore. Staley has also faced calls from analysts and investors to address the under-performance of the investment bank, seen as the main culprit for the two-year slide in shares that’s left the bank trading 40% below its book value. He will present a a strategic update on March 1 alongside full-year results.

The number of shares Staley owns in Barclays has increased to 2,812,997 after he received a stock award from the bank.

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

Barclays's Staley Lost $3.2 Million in 101 Days Amid Stock Slide

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