Reuters - Top firm said under pressure to fix investment bank - and fairly quickly

Stopwatch

Questions will need to be answered.

Reuters reports that from BZW to BarCap, Barclays bosses have spent more than three decades trying to make the British bank a profitable investment banking force, often frustrating its investors.

Now Barclays CEO Jes Staley is being given one more year to deliver on a promise to turn its investment bank into a profit engine able to weather downturns or face demands for a review of the business, shareholders told Reuters.

Returns from investment banking continue to underwhelm, despite a recent turnaround in market conditions, leading some shareholders to set Staley a deadline for an improvement.

“Assuming market conditions remain favourable, then we would really be looking to see high single digit returns on equity for this business by the next year-end, or questions will need to be answered,” Steve Davies, manager of the Jupiter UK Growth Fund, and a top 40 Barclays investor, told Reuters.

Hit the link below to access the complete Reuters article:

Barclays investors give CEO Staley year to fix investment bank

Credit Suisse sued over U.S. 'volatility' product losses

 

JefferiesAnd the Best Place to Work in the global financial markets 2017 is...

Register for Financial Markets News Alerts