1. The CEO of Barclays Has 12 Months to Fix its Investment Bank

    The CEO of Barclays Has 12 Months to Fix its Investment Bank
    • Barclays Chief Executive Jes Staley is being given one more year to deliver on a promise to turn its investment bank into a profit engine able to weather downturns or face demands for a review of the business, shareholders told Reuters.
    • A slew of ex-JPMorgan high-fliers including rainmaker Tim Throsby and 40 newly-recruited managing directors, have joined to help revitalize the business...
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    1. Does investment banking perform a useful function? I think in the round it does. It acts as the intermediary between providers and consumers of capital. If that assertion is correct then it should be able to earn a return.
    2. Fundamentally, the CIB remains a lower return on equity business relative to Barclays UK and the Consumer, Cards & Payments piece.
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