Barclays CEO's Departure Seen as Disappointing but Unavoidable -- Market Talk
November 01 2021 - 5:10AM
Dow Jones News
Barclays CEO Jes Staley's sudden departure amid regulators'
investigation into his relationship with Jeffrey Epstein is
disappointing, Shore Capital says. The FTSE 100-listed bank's CEO
has done an excellent job in improving the performance of the group
in recent years, the brokerage says, noting that the lender is in a
good financial place. However, this news don't come as a total
surprise with such an investigation happening in the background,
Shore says. "It is also not the first time Mr. Staley's behavior
has come into question, following the whistleblowing scandal in
2016, for which he was personally fined over GBP600,000. As a
result, his position has clearly become untenable," Shore says.
Shares are down 1.7% at 198.74 pence. (sabela.ojea@wsj.com;
@sabelaojeaguix)
(END) Dow Jones Newswires
November 01, 2021 04:55 ET (08:55 GMT)
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