Incoming Barclays chairman John McFarlane to face “very challenging requirements” September 12, 2014 Aviva chairman John McFarlane will face "very challenging requirements" in his new role as chairman of Barclays, said the man who recruited him today. McFarlane, who is one of Scotland's most senior businessmen, will pick up the reins at Barclays' next AGM next April when incumbent Sir David Walker steps down. He is [...]
Barclays to make a £500m loss on its Spanish arm as it agrees sale to CaixaBank September 1, 2014 Barclays has agreed to sell its Spanish business to CaixaBank, Spain's third-largest lender, for €800m (£630m). The bank will make a £500m loss on the deal to sell its Spanish retail banking, wealth and investment management, and corporate banking businesses, but leverage exposure will be trimmed to the tune of £15bn. Shares in Barclays were [...]
New Barclays chair should be female – CNBC Comment August 11, 2014 It’s time for a woman to be the chair of Barclays. And yes, simply because she is a woman, it would make things better. Rona Fairhead, the former Financial Times boss and finance director of parent company Pearson, is rumoured to be on a shortlist to take over from Sir David Walker next year. She [...]
Rona Fairhead in running for Barclays chairman job August 10, 2014 Long serving HSBC non-exec director Rona Fairhead could be a frontrunner to take over as Barclays’ chairman, it emerged over the weekend. The former Financial Times chief executive could replace outgoing chairman Sir David Walker, though no formal timetable has been laid out. Sir Howard Davies is also thought to be a candidate. Barclays declined to [...]
Barclays’ Isa changes to hit savers August 6, 2014 Barclays is set to move around 2.3m savers on to a new type of Isa which for two thirds of them will mean worse interest rates. The bank has already closed 11 of its cash Isas to new customers and will now be withdrawing them from existing customers too. The new Isas will pay less than [...]
Barclays’ dark pool still reeling from New York legal accusations August 4, 2014 Barclays’ private trading facility is still struggling to bounce back from claims in the US that it lied to investors, industry data showed yesterday. The British bank is fighting the claims, arguing it did not mislead investors and that the New York attorney general has got his facts wrong. Just 95.8m shares were traded on the Barclays [...]
Barclays’ Antony Jenkins says his bank has turned corner July 30, 2014 Antony Jenkins had a new spring in his step yesterday. Payment protection insurance mis-selling might have blown another near-billion pound hole in his profits, but he had the look of a man who knows he is on the verge of something great. Like most post-crisis banking chiefs, Jenkins took the reins at Barclays in the wake [...]
Barclays’ progress frustrated by legal costs and PPI July 30, 2014 Mounting PPI payouts and weak investment bank performance knocked Barclays’ profits in the first half of 2014, the bank said yesterday. Pre-tax profits fell seven per cent to £3.3bn, down from £3.6bn in the same period of 2013. Operating income fell nine per cent to £12.2bn, while operating expenses rose nine per cent to £8.9bn. [...]
Barclays and Deutsche Bank offices could be monitored in forex market fixing probe July 30, 2014 Regulators want to place government monitors in the offices of Barclays and Deutsche Bank in the US as part of an investigation into alleged currency price fixing on the forex market. The New York Department of Financial Services wants to monitor the current and historical operations of the banks, the Wall Street Journal reports. The [...]
Barclays share price rises despite fall in profit July 30, 2014 Barclays has seen its share price rise in early trading despite underwhelming half-yearly results. Shares were up 3.2 per cent to 226.1 pence at pixel time, as the markets were clearly not put off by an announcement which included falls in overall profit before tax ( down seven per cent) and profit before tax for Barclays investment [...]