Barclays CEO to keep control of investment arm

Jes Staley, chief executive officer of Barclays Plc, gestures as he speaks during a Bloomberg Television interview on day two of the World Economic Forum in Davos, Switzerland, on Wednesday, Jan. 22, 2020. Picture: SIMON DAWSON / BLOOMBERG

Staley has “a more direct line of sight” into the unit with three senior bankers on the executive committee, he said in an interview with Bloomberg TV. He took direct control of that business after Tim Throsby’s departure and has been seeking to cut costs in a bid to better compete with Wall Street peers.

Despite months of persistent pressure from activist investor Edward Bramson, the British bank’s overall direction “is pretty well set — people buy into it, the shareholders buy into it, our performance is demonstrating the wisdom of that universal bank strategy”, he said.

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