Barclays' Investment Bank Struggles
April 25 2019 - 7:19AM
Dow Jones News
By WSJ City
Barclays reported weak first-quarter earnings in its investment
bank, days before shareholders are due to vote on a board
appointment for an activist investor who wants to shrink the
unit.
KEY FACTS
-- Net profit in Barclays's corporate and investment bank fell 30% from a
year ago to GBP582m.
-- The reasons: reduced client activity, lower volatility and fewer
corporate deals.
-- Overall net profit was GBP1.04bn, up from a GBP764m net loss last year
which stemmed from regulatory settlements.
Why This Matters
The results ramp up pressure on Chief Executive Jes Staley to
prove the bank's strategic mix of consumer, business and investment
banking can work. Sherborne Investors is asking shareholders to
vote its founder, Edward Bramson, onto the board at an annual
meeting May 2 to trigger a change in strategy.
This story first appeared on Dow Jones Newswires.
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(END) Dow Jones Newswires
April 25, 2019 07:04 ET (11:04 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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