Barclays CEO Change Seen Prompting Deeper Investment Bank Review
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Barclays Plc Chairman John McFarlane may seek to broaden an overhaul of the investment bank after ousting Chief Executive Officer Antony Jenkins as Britain’s second-largest lender accelerates efforts to revive profit.
McFarlane, who is taking over from Jenkins until a successor is found, has pledged to reallocate capital and prioritize investment in the lender’s most profitable units. He’s seeking a new CEO who is familiar with investment banking, he said Wednesday, as he tackles restoring the division which has slumped to being the company’s least profitable.