'One of the best performances of an investment bank'

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Pressure off ?

Bloomberg News reports that Barclays chief Jes Staley’s efforts to fend off an activist investor and pursue his own plan were bolstered by stronger-than-expected earnings at its investment bank.

Second-quarter trading revenue at the securities unit grew 11%, according to a statement Thursday. That’s more than the average 9.5% pace achieved by U.S. banks in the period. The investment bank is the centerpiece of Staley’s strategy for the London-based bank.

“That would be one of the best performances of an investment bank, whether it be Europe or the U.S.,” Staley said in an interview with Bloomberg TV. “This is Barclays running free.”

Hit the link below to access the complete Bloomberg News article:

Barclays `Running Free' as CEO Staley Lauds Surge in Trading

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