Bloomberg News reports that the shares are trailing all other European banks in 2017 after it missed out on a stellar first quarter for debt and equity trading revenue at most investment banks. While CEO Staley has shrugged off criticism, investors remain concerned his bet that Barclays can compete with the top-tier of Wall Street isn’t paying off.
Staley has thrown his weight behind the investment bank in London and New York, while shrinking elsewhere, arguing it provides a counterbalance to the bank’s more profitable retail and card businesses. The latter divisions could also face difficult U.K. market conditions amid Brexit and a possible consumer credit bubble. Following muted activity at U.S. rivals, expectations are even lower this time for the securities unit, with JPMorgan Chase analysts predicting Barclays’ fixed-income trading fell 16% in the period.
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