People Moves

Barclays To Appoint Ex-JP Morgan Banker As New CEO – Reports

Amisha Mehta, Assistant Editor, London, 14 October 2015

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The British banking giant is reportedly planning to welcome Jes Staley as its new chief executive.

Barclays is to appoint former JP Morgan investment banker Jes Staley as its new chief executive, according to reports.

The appointment is subject to regulatory approval and expected to be announced in the next couple of weeks, the Financial Times reported. In response to media reports on the matter, Barclays issued a statement on the London Stock Exchange.

“The process of appointing a new group chief executive officer has not yet concluded and Barclays will provide a further update once that is complete,” the UK-listed bank said.

Staley currently works at US hedge fund Blue Mountain Capital, having previously spent more than three decades at JP Morgan. He would fill the role vacated by Antony Jenkins, who left Barclays in July after non-executive directors demanded faster changes and called for a “new set of skills”.

The bank has been busy shedding its non-core operations, including its Portuguese wealth and investment management businesses, which it recently sold to Spain's Bankinter. Shares in Barclays fell 3 per cent to 249 pence in afternoon London trading yesterday.

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