Barclays has promoted 85 executives in the international division that houses its investment bank to the rank of managing director, the British lender said on Friday.
Reuters reports that the promotions represent an increase from the 74 elevated last year and 60 in 2016. However, a spokesman for the bank said the net increase in managing directors could be smaller than those figures implied as some executives have also left.
The promotions come as Barclays’ investment bank is under scrutiny by investors, amid pressure by activist investor Edward Bramson who sees paring back the trading business as the way to generate better returns for Barclays overall.
Hit the link below to access the complete Reuters article:
Have something to tell us about this article?