Britain’s third base most popular shore Barclays PLC is stop to baptism former JPMorgan Chase banker Jes Staley as its new ceo, anyone by having familiarity with the case said on Monday.
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The announcement naming Staley to the position could come within the next few weeks, depending on regulatory approvals.
Mr Staley is now working at BlueMountain Capital Management in the US.
The move would put a three-decade veteran of J.P. Morgan in charge of a bank that has been looking for a CEO since it ousted its former leader, Anthony Jenkins, in July amid concerns about lackluster performance and slow progress on restructuring. Bob Diamond, Mr Jenkins’s predecessor, ran the lender’s investment banking operations before becoming chief executive in 2011.
Barclays is in the process of slashing thousands of jobs and winding down a multibillion-pound portfolio of non-core assets at its investment bank as it prepares to separate the division from its retail unit under the UK’s so-called “ringfencing” law.
Chairman John McFarlane, who has been running the bank in the interim, had said earlier in July that it will look at internal as well as external candidates to make an appointment. “But that’s a tough part of the Barclays’ business for it to get right”.
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Staley is now on UBS’ board of directors.
