Barclays CEO Staley grabs control of investment bank, ousts Throsby

LONDON - Barclays chief executive Jes Staley took direct control of its under-pressure investment bank on Wednesday, ousting the head of the business Tim Throsby in a surprise shake-up as he battles an activist investor.

“We need a more granular execution focus on the businesses within the CIB if we are to drive those returns, in a reasonable timeframe, towards and above that cost of capital,” said Staley. Barclays hired Throsby, who like Staley came from JP Morgan, in September 2016 after a six-month search for the vital job overseeing the bank’s trading and advisory businesses.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Barclays delivers a bombshell as investment-banking head Tim Throsby steps downThrosby, head of Barclays investment banking arm, is leaving in a shock move after only being at the UK bank for little more than two years.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Deutsche Bank’s Investment-Banking Arm Looms Large Over Commerzbank Merger TalksThe German government has urged Deutsche Bank and Commerzbank to pursue a deal that would create a stronger lender, but cultural and business divides between the two companies could hinder talks. They both tank if they don’t. So they will. 🤔of all days.. Waste more tax dollars
Source: WSJ - 🏆 98. / 63 Read more »