Barclays confirms Jes Staley as new chief executive

 
Lauren Fedor
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Barclays has confirmed Jes Staley as its new chief executive.

Barclays has confirmed Jes Staley as its new group chief executive.

The bank said this morning that Staley will take up his new job on 1 December.

Barclays chairman John McFarlane said: “Barclays is an incredibly important, broad and complex business. Appointing an individual with the business scope, seasoning and track record is a difficult challenge.

"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. In particular, he understands corporate and investment banking well, the re-positioning of which is one of our major priorities."

Read more: Who is Jes Staley?

McFarlane has been acting chief executive since former chief executive Anthony Jenkins was fired in July.

Staley, a former investment banker at JP Morgan, said this morning: "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. We must also continue the focus on shareholder returns which John McFarlane has mandated."

Barclays is expected to publish its third-quarter results tomorrow.

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