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Barclays Shareholders Want To Know Why Jes Staley Hasn’t Fixed It Yet

It's not like the bank was in terrible shape when he got there or anything.
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You're all fired.

I mean, he’s had three whole months, and it’s not like the bank is that big a mess.

Investors are getting impatient. The bank’s stock has slumped 40% in the past 12 months….

Barclays is a difficult ship to right. A cultural rift remains between its U.S. investment bank, largely acquired from the carcass of Lehman Brothers, and its profitable but staid U.K. retail business. Employees at the bank complain of a continuous churn of managers and byzantine bureaucracy. For instance, one consultant was surprised to discover the bank still paid cellphone subscriptions for staff that had quit the lender months earlier.

Don’t worry too much about Jes, though. He must have expected this, knowing before even getting to Barclays that investors in banks are pretty stupid. And so he’s ready to keep firing people for as long as necessary to get things in order.

Impatient Barclays Investors Await CEO’s Plan [WSJ]


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Jes Staley Really Showed Us

Barclays’ chief gets to keep his investment bank and his job.

(Getty Images for Yahoo Finance)

Jes Staley’s ‘I Told You So’ Tour Rolls On

Barclays had another quarter in which its I-bank wasn’t too embarrassing.

(Getty Images for Yahoo Finance)

Jes Staley Enjoying Rare Moment Of Non-Outright Hostility

Throwing a few extra pence his shareholders’ has him moving up from John Cryan levels of popularity to the Brian Moynihan-esque.

(Getty Images for Yahoo Finance)

Jes Staley Doubles Down On Diversification

He loves Barclays investment bank, and he really loves the idea of investment bankers working in back rooms of strip malls in Swindon.

(Getty Images for Yahoo Finance)

Just How Fulsome Was Jes Staley’s Description Of His Ties To Jeffrey Epstein To British Regulators?

They’d like to know if he improperly kept his underwear on in his disclosures to them.

(Getty Images for Yahoo Finance)

Jes Staley High On Investment Banking, Low On General Future Of Britain

This is problematic, given that he runs a British bank.