Since Jes Staley took charge of Barclays at the end of 2015, he has faced constant questions over his ability to reposition the firm as a credible force in investment banking. Sticking to his guns in the face of activist shareholder pressure, he now looks vindicated, but growing from here presents a new challenge.
Barclays has long wanted to rebuild the European ECM franchise it got rid of in 1997 with the sale of BZW, but has often struggled to do so. With a foundation of corporate broking in the UK and hiring in continental Europe, it’s finally making some progress.
The surprise exit of Absa chief executive Daniel Mminele in April, only 15 months into the job, shows how much the South African group is still finding its way in the post-Barclays era. Can the next CEO gain the authority to drive Absa’s revival?
May 20, 2021
With SGX and Temasek, the two banks believe they have the collective strength and skills to build Climate Impact X.