James Staley is Barclay’s New Chief Executive

Barclays Bank

James Staley has been confirmed as the new chief executive for Barclays bank.

The American will leave his current position at the US hedge fund Blue Capital Mountain on the 1st December.

The appointment of Staley comes following criticism that Barclays was losing its focus on investment banking.

John McFarlane, Barclays’ chairman, said to the BBC that:

“In Jes Staley we believe we have an executive with the appropriate leadership talent and wide-ranging experience to deliver shareholder value and to take the Group forward strategically.”

Prior to working for Blue Capital Mountain, Staley was CEO at JP Morgan Chase’s investment bank.

In response to the appointment at Barclays, Staley said:

“We will be committed to preserving and enhancing the trust that is the foundation of Barclays’ reputation. Stability and long-term orientation are cornerstones for this great institution. We must recognise Barclays’ special obligation to those principles.”

Staley will be taking over from Anthony Jenkins, after he was fired in July following a fall-out with board members.

 

Barclays’ announcement

 

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