Search

The article states that British central bank the Bank of England (BOE) announced on October 15, 2015, that large British banks such as Barclays PLC, HSBC Holdings PLC, and Lloyds Banking Group PLC would be required to separate retail operations from investment-banking operations by 2019. According to the article, the Bank of England stated that retail operations conducting what is known as ring-fencing would be required to hold extra capital in order to cover the risk of operations.

The article discusses the strategic challenges facing U.S. banker James Staley should he become chief executive officer (CEO) of British bank Barclays PLC as expected sometime in late 2015. According to the article, Staley would be expected to convince Barclays investors that he can revamp the investment banking unit of Barclays without sacrificing its focus on retail and corporate business. The article discusses Staley's career with the U.S. bank J.P. Morgan Chase & Co. and hedge fund BlueMountain Capital Management.

The article states that European bank Barclays PLC was planning to name former U.S. bank J.P. Morgan Chase & Co. executive James "Jes" Staley as chief executive officer (CEO) as of Autumn 2015. According to the article, Barclays executive chairman John McFarlane led a three-month search to replace ousted Barclays CEO Antony Jenkins, who was fired in July 2015. The article states that Staley's appointment would signal a possible return to a focus on investment banking for Barclays.

The article states that shares of U.S. investment banks including J.P. Morgan Chase & Co., Bank of America Corp., and Goldman Sachs Group Inc. have increased by an average of 45 percent over five years as of the end of July 2015 while European banks including Barclays, Credit Suisse Group AG, and Deutsche Bank have declined 17 percent during the same time period. According to the article, European banks were preparing to downsize their global strategies while U.S. banks were in position to take advantage.

The article discusses incoming chairman John McFarlane of banking company Barclays PLC. His prior stints at Australia & New Zealand Banking Group Ltd. and Royal Bank of Scotland Group PLC earned him a reputation as a cost cutter. At Barclays he must decide whether to continue downsizing the firm's investment bank, an endeavor begun by chief executive Antony Jenkins. McFarlane has reportedly said his top priority will be increasing shareholders' returns.

The article discusses an earnings report for the second quarter of 2014 from banking company Barclays PLC. In addition to a profit of 161 million British pounds, Barclays disclosed it had set aside 900 million pounds for potential liabilities in connection with the improper sale of insurance products. Chief executive Antony Jenkins said benefits of his restructuring strategy would start to become apparent in the third quarter.

The article discusses retrenchment by banking company Barclays PLC. On May 8, 2014 the bank said it would downsize its investment-banking staff by nearly 50% and sell its retail-banking businesses in several countries including France and Italy. Barclays deputy chairman Michael Rake said it was not longer feasible for the company to function as a global bank.

The article reports that on April 29, 2014 investment banker Skip McGee resigned his position as head of banking company Barclays PLC's operations in the U.S. McGee is said to have been unhappy with the bank's compensation policies, as well as with the increasing focus on regulatory compliance that his job entailed. He will be succeeded by Barclays executive Joe Gold.

The article discusses a change in compensation practices at the Barclays Wealth & Investment Management (BWIM) division of financial firm Barclays PLC. Pay for financial advisers at BWIM will no longer depend exclusively on the fees and commissions they generate. A portion of compensation will be tied to professional conduct. In 2013 Barclays chief executive Antony Jenkins articulated a similar policy regarding bonuses.

The article discusses an earnings report for the fourth quarter of 2013 from banking company. Barclay's PLC. The firm's net loss increased to $1.05 billion including an unusual quarterly loss at its investment-banking operation. Restructuring costs have also impaired earnings. Information is presented about chief executive Antony Jenkins' efforts to improve profit margins by cutting costs.

This article discusses the resignation of finance chief Chris Lucas and general counsel Mark Harding from British financial services company Barclays. The author comments on the company's rigging of interest rates in 2012, which forced the resignation of Chief Executive Officer (CEO) Robert Diamond. The involvement of Lucas and Harding in the scandal is also considered.

The article discusses Stephen Morse, a former executive at the British bank Barclays PLC, with a focus on his notification in 2008 of Barclays' attempts to manipulate the London interbank offered rate (Libor). Topics include Morse's employment as of September 2008 as head of compliance at TD Bank Group; criticism of the Barclays department which Morse headed during the time of the Libor scandal; and concerns over Morse's employment as chief compliance officer for another international bank.

This article discusses the British Bankers' Association's (BBA) control over the London interbank offered rate (Libor). Topics include the 2008 suggestion by BBA head Angela Knight that management of Libor had become too great for the organization to manage, the role of the BBA in the 2012 Libor scandal involving British financial services company Barclays PLC, and the organizational and personnel changes at the BBA following the scandal.

The article reports on the announcement that British banker Antony Jenkins has been promoted to chief executive officer (CEO) of Barclays bank following the resignation of Robert Diamond. Topics include whether choosing a Briton to succeed the American Diamond will restore the bank's reputation, the appointment of banking executive David Walker as chairman of the board, and why Jenkins has not yet revealed his business strategy for rebranding the bank.

The article reports that Chris Lucas, the chief financial officer (CFO) of the bank Barclays PLC, is under investigation by Great Britain's Financial Services Authority (FSA) concerning Barclays' arrangements with Qatari investors and disclosure of fees. The article says that the investigation could increase doubts about the bank's stability, in addition to lawsuits due to attempts to manipulate the London interbank offered rate (Libor).

The article reports that former chief executive Robert Diamond of banking company Barclays PLC has agreed to forgo up to $31 million in bonus payments. Diamond announced his resignation from Barclays following reports that employees of the firm tried to manipulate LIBOR. Details are presented about a July 10, 2012 meeting of the British Parliament's Treasury Select Committee, which is investigating the matter.

The article discusses the possibility that the British Financial Services Authority (FSA) missed warning signs concerning problems with the Libor interest rate scandal as of July 6, 2012. According to the article, British financial firm Barclays PLC executives warned the FSA as early as 2007 about the Libor but that the FSA did not investigate until 2010. The article discusses the leadership of FSA head Adair Turner. INSET: Missed Signals.

The article states that British financial firm Barclays PLC chief executive Robert Diamond sent a letter to employees in summer 2012 apologizing for the firm's involvement in manipulating the London Interbank Offered Rate (Libor). The article also states that Diamond pledged to establish new internal control policies, and that Diamond's letter confirmed the resignation of Barclays chairman Marcus Agius.

The article states that British financial firm Barclays PLC chairman Marcus Agius was expected to resign on July 2, 2012. According to the article, Agius was under pressure to leave from investors following the revelation that several Barclays employees attempted to manipulate the Libor interest rates.

The article discusses a June 28, 2012, announcement by the British Bankers' Association (BBA) concerning the regulation of the Libor interest rate mechanism. According to the article, the announcement followed an agreement by British financial firm Barclays PLC to pay $453 million in fines for the manipulation of interest rates. The article states that the BBA sets the Libor rate on a daily basis.

The article states that British financial firm Barclays PLC agreed to pay fines of $453 million to U.S. and British regulators as of June 28, 2012. According to the article, Barclays admitted to the attempted manipulation of interest rates connected to loans and financial contracts by its traders. The article also states that government regulators in the U.S., Europe, and Asia, were extending investigations of similar activities by other financial firms.