Questions will need to be answered.
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.
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