FT - Barclays boss faces growing pressure

Jes Staley Interview Pic

Barclays’ chief executive is facing growing pressure on two fronts as shareholders lose patience with his investment banking strategy and sluggish share price, while regulators prepare to decide whether he should be allowed to stay in his job.

Jes Staley, the American hired by the British bank almost two years ago, is betting he can increase one of the group’s key profitability measures to its highest level in almost a decade by expanding the investment bank.

But several top 20 investors told the Financial Times they were sceptical about the strategy of throwing more resources at the investment bank, which is Barclays’ least profitable division and already absorbs more than half its total capital.

Shares in Barclays are down 15% cent since the start of this year, lagging behind its main rivals and pricing it a third below its book value.

Hit the link below to access the complete Financial Times article:

Barclays chief Jes Staley faces threats on two fronts

Staley scrutinised as Barclays faces historic dilemma

 

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