| Home | Log In | Register | Our Services | My Account | Contact | Help |
You are NOT currently logged in
Barclays PLC-News & Media Reports (BARC)
banjomick
- 07 Jan 2015 21:44
NEWS
27th Oct 2016 Q3 2016 Results Announcement
27th Apr 2016 1st Quarter Results
01st Mar 2016 Barclays plc 2015 Full Year Results (PDF 2.1MB)
29th Oct 2015 Q3 2015 Results Presentation (PDF, 500KB)
29th Oct 2015 Q3 2015 Results Announcement (PDF, 1.1MB)
28th Oct 2015 Barclays appoints James E. Staley as Group Chief Executive
29th Jul 2015 2015 Interim Results
08th Jul 2015 BARCLAYS PLC - Change of Leadership
VIDEO/AUDIO
24th May 2016 Barclays CEO Staley on Performance, Economy, Markets
EVENTS
23rd Feb 2017 Full Year 2016 Results
LINKS
Regulatory News
Investor News
Press Releases
Social Media Channels
banjomick
- 09 Feb 2015 10:52
- 14 of 111
Out of interest.....latest broker forecasts:
http://www.hl.co.uk/shares/shares-search-results/b/barclays-plc-ordinary-25p/broker-forecasts
http://www.hl.co.uk/shares/shares-search-results/b/barclays-plc-ordinary-25p/broker-forecasts
banjomick
- 11 Feb 2015 15:58
- 15 of 111
Barclays launches fintech accelerator program in New York
11 Feb 2015
Barclays and Techstars plan to launch their flagship Accelerator program in New York, following its resounding success in London; ten companies will have the chance to shape the future of financial services.
The Barclays Accelerator, powered by Techstars, will open in New York in July 2015. The program will provide the opportunity for ten companies to participate in thirteen weeks of intensive networking, mentoring and development, aimed at supporting breakthrough financial technology innovations.
The first Barclays Accelerator program ran in London last year. A range of innovative fintech ideas were developed, including a new credit scoring system, a new money management tool to help people regain control of their finances, and an analytics platform designed to help companies manage risk and reputation.
“At Barclays we recognize that innovation will not solely be driven from within our organization so we are actively embracing the opportunities and expertise of the start-up ecosystem. Our Accelerator enables us to help translate emerging technologies into what could be the future of financial services” said Derek White, Barclays Chief Design and Digital Officer. “Our goal in New York is to help innovators develop new disruptive fintech technologies, particularly in the investment banking, wealth management and credit cards industries. We’re thrilled that we are able to extend our program to New York, a hub for global finance, building upon the successes we have already seen in London.”
The ten companies will be based at new, custom-built premises in Manhattan when they join the program in July. The companies will also have access to a catalogue of Barclays APIs and data to help them build and refine their business models. The program will culminate with a Demo Day in October, when the companies will have the opportunity to pitch their business ideas to industry leaders.
“Through this expanded partnership with Barclays, we’re able to build on the successes of our London accelerator program, now in its second year, by bringing the same level of fintech innovation to New York City,” said David Cohen, Founder and Managing Partner, Techstars. “Companies joining the New York program will have the opportunity to leverage not only the Barclays network but also the vast fintech community that we’ve been building for the last two years.”
From March 2 until May 1, 2015, entrepreneurs and start-up companies worldwide will be able to apply for a place on the program by visiting www.barclaysaccelerator.com. The program will begin in July 2015 with the Demo Day scheduled for October.
http://www.newsroom.barclays.com/releases/ReleaseDetailPage.aspx?releaseId=3114
11 Feb 2015
Barclays and Techstars plan to launch their flagship Accelerator program in New York, following its resounding success in London; ten companies will have the chance to shape the future of financial services.
The Barclays Accelerator, powered by Techstars, will open in New York in July 2015. The program will provide the opportunity for ten companies to participate in thirteen weeks of intensive networking, mentoring and development, aimed at supporting breakthrough financial technology innovations.
The first Barclays Accelerator program ran in London last year. A range of innovative fintech ideas were developed, including a new credit scoring system, a new money management tool to help people regain control of their finances, and an analytics platform designed to help companies manage risk and reputation.
“At Barclays we recognize that innovation will not solely be driven from within our organization so we are actively embracing the opportunities and expertise of the start-up ecosystem. Our Accelerator enables us to help translate emerging technologies into what could be the future of financial services” said Derek White, Barclays Chief Design and Digital Officer. “Our goal in New York is to help innovators develop new disruptive fintech technologies, particularly in the investment banking, wealth management and credit cards industries. We’re thrilled that we are able to extend our program to New York, a hub for global finance, building upon the successes we have already seen in London.”
The ten companies will be based at new, custom-built premises in Manhattan when they join the program in July. The companies will also have access to a catalogue of Barclays APIs and data to help them build and refine their business models. The program will culminate with a Demo Day in October, when the companies will have the opportunity to pitch their business ideas to industry leaders.
“Through this expanded partnership with Barclays, we’re able to build on the successes of our London accelerator program, now in its second year, by bringing the same level of fintech innovation to New York City,” said David Cohen, Founder and Managing Partner, Techstars. “Companies joining the New York program will have the opportunity to leverage not only the Barclays network but also the vast fintech community that we’ve been building for the last two years.”
From March 2 until May 1, 2015, entrepreneurs and start-up companies worldwide will be able to apply for a place on the program by visiting www.barclaysaccelerator.com. The program will begin in July 2015 with the Demo Day scheduled for October.
http://www.newsroom.barclays.com/releases/ReleaseDetailPage.aspx?releaseId=3114
banjomick
- 17 Feb 2015 13:07
- 16 of 111
UK January inflation falls to lowest since records began
Tue Feb 17, 2015
(Reuters) - British consumer price inflation fell last month to its lowest level since records began in 1989, and it looks set to fall further still, easing a squeeze on consumers just as national elections approach.
Official figures on Tuesday showed the annual rate of consumer price inflation fell to 0.3 percent in January, as expected in a Reuters poll, from 0.5 percent in December.
The tumble largely reflected a slide in global oil prices, which last month fell to their lowest level in almost six years at below $45 a barrel, as well as lower food prices.
Coming less than three months before a parliamentary election, Prime Minister David Cameron will welcome the figures as good news for households, boosting their spending power after years of weak wage growth.
The Official for National Statistics estimated January's CPI figure was the lowest since 1960, using models which go back before the introduction of the index.
The plunge in inflation could also delay a first interest rate rise by the Bank of England since the financial crisis, if price falls spread beyond food and energy.
The fall of inflation would have been sharper but for a softer slowdown in the fall in clothing prices in monthly terms, which the ONS attributed to a greater number of discounts in December than the previous year.
Most economists say Britain, where consumer spending remains strong and wages are starting to rise, faces less danger of deflation than the euro zone, where falling prices have sparked fears of a Japan-style economic stagnation.
Food and non-alcoholic drink prices, which have been pushed down by a supermarket price war and lower commodity prices, fell 2.5 percent compared with a year earlier -- their biggest fall on record.
Last week, BoE Governor Mark Carney said inflation would probably soon fall below zero due to tumbling oil prices. But the Bank forecast that inflation will rebound to hit its 2 percent target in about two years' time.
In a separate release on Tuesday, the ONS said prices at the factory gate fell 1.8 percent in the year to January, the biggest decline since records began in 1997.
In January alone, crude oil prices paid by British manufacturers fell by 20.2 percent from December - the sharpest drop since December 2008 when the world economy was deep in a financial crisis.
BoE Governor Carney has described the fall in oil price as unambiguously positive for the UK economy.
The ONS also said house prices in Britain rose 9.8 percent in yearly terms in December, slowing from 9.9 percent in November, adding to other signs of cooling in the housing market at the end of last year.
Prices in London rose 13.3 percent, while outside the capital and the south-east house prices were 7.4 percent higher.
(Reporting by Andy Bruce and William Schomberg; editing by John Stonestreet)
http://uk.reuters.com/article/2015/02/17/uk-britain-inflation-idUKKBN0LL0OU20150217
Tue Feb 17, 2015
(Reuters) - British consumer price inflation fell last month to its lowest level since records began in 1989, and it looks set to fall further still, easing a squeeze on consumers just as national elections approach.
Official figures on Tuesday showed the annual rate of consumer price inflation fell to 0.3 percent in January, as expected in a Reuters poll, from 0.5 percent in December.
The tumble largely reflected a slide in global oil prices, which last month fell to their lowest level in almost six years at below $45 a barrel, as well as lower food prices.
Coming less than three months before a parliamentary election, Prime Minister David Cameron will welcome the figures as good news for households, boosting their spending power after years of weak wage growth.
The Official for National Statistics estimated January's CPI figure was the lowest since 1960, using models which go back before the introduction of the index.
The plunge in inflation could also delay a first interest rate rise by the Bank of England since the financial crisis, if price falls spread beyond food and energy.
The fall of inflation would have been sharper but for a softer slowdown in the fall in clothing prices in monthly terms, which the ONS attributed to a greater number of discounts in December than the previous year.
Most economists say Britain, where consumer spending remains strong and wages are starting to rise, faces less danger of deflation than the euro zone, where falling prices have sparked fears of a Japan-style economic stagnation.
Food and non-alcoholic drink prices, which have been pushed down by a supermarket price war and lower commodity prices, fell 2.5 percent compared with a year earlier -- their biggest fall on record.
Last week, BoE Governor Mark Carney said inflation would probably soon fall below zero due to tumbling oil prices. But the Bank forecast that inflation will rebound to hit its 2 percent target in about two years' time.
In a separate release on Tuesday, the ONS said prices at the factory gate fell 1.8 percent in the year to January, the biggest decline since records began in 1997.
In January alone, crude oil prices paid by British manufacturers fell by 20.2 percent from December - the sharpest drop since December 2008 when the world economy was deep in a financial crisis.
BoE Governor Carney has described the fall in oil price as unambiguously positive for the UK economy.
The ONS also said house prices in Britain rose 9.8 percent in yearly terms in December, slowing from 9.9 percent in November, adding to other signs of cooling in the housing market at the end of last year.
Prices in London rose 13.3 percent, while outside the capital and the south-east house prices were 7.4 percent higher.
(Reporting by Andy Bruce and William Schomberg; editing by John Stonestreet)
http://uk.reuters.com/article/2015/02/17/uk-britain-inflation-idUKKBN0LL0OU20150217
banjomick
- 27 Feb 2015 12:23
- 17 of 111
A few days late.....
Barclays launches Twitter Payments through Pingit
25 Feb 2015
In a UK first, Barclays has today announced it will be the first British bank to allow people to pay each other and small businesses using just their Twitter handle.
Launching on both Android phones and iOS devices next month (Tuesday 10th March), Twitter payments through Pingit will expand the existing service to social media and a potential 13.5 million Twitter users in the UK. The service will be available to all Pingit customers whether they bank with Barclays or not.
To sign up, users can link their Twitter handle to their Pingit profile under the app settings. Payments to friends, family and even small businesses are then easily completed in three easy clicks.
1. Log into Pingit
2. Enter the Twitter handle or select a payee from the contact list
3. Complete the payment instantly
Darren Foulds, Director of Barclays Mobile Banking and Pingit said: “We are always on the lookout for new and exciting ways to make people’s lives easier and customer feedback plays a big part in how we chose to further develop our apps.
“Adding the ability to pay people or a small business using just a Twitter handle brings together a social and digital experience to create a new step forward for mobile payments in the UK”.
With eighty per cent of UK Twitter users now accessing the social network through their mobile regularly, the offering gives people a new, fast and safe way to pay without having to always provide either bank details or a phone number.
Launched in 2012, Pingit has now received 3.7 million downloads and over £1 billion has been sent using the app.
This new way of payment will also be available to businesses, providing an added benefit to the 57,000 companies in the UK currently signed up to Barclays Pingit service.
For further information on Barclays Pingit and to download the app visit Barclays.co.uk/pingit
Barclays launches Twitter Payments through Pingit
25 Feb 2015
In a UK first, Barclays has today announced it will be the first British bank to allow people to pay each other and small businesses using just their Twitter handle.
Launching on both Android phones and iOS devices next month (Tuesday 10th March), Twitter payments through Pingit will expand the existing service to social media and a potential 13.5 million Twitter users in the UK. The service will be available to all Pingit customers whether they bank with Barclays or not.
To sign up, users can link their Twitter handle to their Pingit profile under the app settings. Payments to friends, family and even small businesses are then easily completed in three easy clicks.
1. Log into Pingit
2. Enter the Twitter handle or select a payee from the contact list
3. Complete the payment instantly
Darren Foulds, Director of Barclays Mobile Banking and Pingit said: “We are always on the lookout for new and exciting ways to make people’s lives easier and customer feedback plays a big part in how we chose to further develop our apps.
“Adding the ability to pay people or a small business using just a Twitter handle brings together a social and digital experience to create a new step forward for mobile payments in the UK”.
With eighty per cent of UK Twitter users now accessing the social network through their mobile regularly, the offering gives people a new, fast and safe way to pay without having to always provide either bank details or a phone number.
Launched in 2012, Pingit has now received 3.7 million downloads and over £1 billion has been sent using the app.
This new way of payment will also be available to businesses, providing an added benefit to the 57,000 companies in the UK currently signed up to Barclays Pingit service.
For further information on Barclays Pingit and to download the app visit Barclays.co.uk/pingit
banjomick
- 24 Oct 2015 10:13
- 18 of 111
Barclays Shares: BARC What to Watch on Reporting Day
Written by Rob Shelton
Last Updated: 23 October 2015
Deutsche Bank have given some thoughts on what to watch when Barclays plc (LON:BARC) reports on the 29th of October.
Barclays reports to the market on the 29 Oct at 7am, analysts at Deutsche Bank tell us they have a Buy rating maintained on BARC with a 306p target price.
“We expect plenty of attention on the investment bank, as usual, especially as the business moves towards a slimmed down – and we think sustainable – business model,” says a note from Deutsche Bank on the matter.
Deutsche = forecast total revenues flat in sterling terms, with Equities +16%, Macro +2%, and
Credit -20% YoY in Q3.
This would be similar to the US peer group and represent a continuing stabilisation of Barclays’ franchise.
Further notes from Deutsche Bank show:
Barclays have a limited SVR risk, but unlikely to be able to reprice further on deposits. However, due to low mortgage rate back book, new mortgage business is still accretive to margins.
Concerns over SVR churn and resulting spread compression have been present for some time, but haven’t materialized in the same way at all banks.
“Barclays is unaffected by SVR given the low proportion on its balance sheet. Management have spoken in the past that new mortgage lending is accretive to margins given low margins on the back book,” say Deutsche Bank.
Written by Rob Shelton
Last Updated: 23 October 2015
Deutsche Bank have given some thoughts on what to watch when Barclays plc (LON:BARC) reports on the 29th of October.
Barclays reports to the market on the 29 Oct at 7am, analysts at Deutsche Bank tell us they have a Buy rating maintained on BARC with a 306p target price.
“We expect plenty of attention on the investment bank, as usual, especially as the business moves towards a slimmed down – and we think sustainable – business model,” says a note from Deutsche Bank on the matter.
Deutsche = forecast total revenues flat in sterling terms, with Equities +16%, Macro +2%, and
Credit -20% YoY in Q3.
This would be similar to the US peer group and represent a continuing stabilisation of Barclays’ franchise.
Further notes from Deutsche Bank show:
Barclays have a limited SVR risk, but unlikely to be able to reprice further on deposits. However, due to low mortgage rate back book, new mortgage business is still accretive to margins.
Concerns over SVR churn and resulting spread compression have been present for some time, but haven’t materialized in the same way at all banks.
“Barclays is unaffected by SVR given the low proportion on its balance sheet. Management have spoken in the past that new mortgage lending is accretive to margins given low margins on the back book,” say Deutsche Bank.
banjomick
- 28 Oct 2015 07:49
- 19 of 111
28 October 2015
Barclays PLC
James E. Staley appointed as Group Chief Executive
Barclays PLC and Barclays Bank PLC ("Barclays") announce that Mr James E. Staley (Jes Staley) has been appointed as Group Chief Executive Officer of Barclays. Mr Staley will take up his role, and join the Barclays Boards as a Director, with effect from 1 December 2015.
Mr Staley has nearly four decades of extensive experience in banking and financial services. He worked for over 30 years at J.P. Morgan initially training as a commercial banker, and later advancing to the leadership of major businesses involving Equities, Private Banking and Asset Management, and ultimately heading the company's Global Investment Bank. He is currently Managing Partner of BlueMountain Capital.
Commenting on the appointment, Barclays Chairman John McFarlane said:
"Barclays is an incredibly important, broad and complex business. Appointing an individual with the business scope, seasoning and track record is a difficult challenge. In Jes Staley we believe we have an executive with the appropriate leadership talent and wide-ranging experience to deliver shareholder value and to take the Group forward strategically. In particular, he understands corporate and investment banking well, the re-positioning of which is one of our major priorities. After an extended process, I now know Jes well, and we are in agreement on the way forward. He is a man of enormous integrity, and someone who both understands the business, but also the importance of cultural reform and the need to conduct our business in a way that we can all be proud of. I look forward to working with him in what will be an exciting and important period for our company as we seek to accelerate the delivery of improved shareholder returns."
Commenting today, Barclays Group CEO-Designate Jes Staley said:
"It is an honour to be chosen to lead Barclays, an institution with an extraordinary legacy of 325 years in existence. I look forward to building on this heritage and to working with the company's dedicated and deeply talented employees to deliver the highest quality financial services to the bank's customers and clients, with integrity and skill.
We will be committed to preserving and enhancing the trust that is the foundation of Barclays' reputation. Stability and long-term orientation are cornerstones for this great institution. We must recognise Barclays' special obligation to those principles. We must also continue the focus on shareholder returns which John McFarlane has mandated. Barclays is a very valuable franchise: from its retail and commercial banking presence in the UK, its strength in cards and payments, its strong position in Africa, to its Investment Bank. Maximising the potential of this franchise means building on our competitive advantages and developing new ones in order to generate strong returns on capital. If we do this, increased value for our shareholders will follow at the same time as Barclays' long history of leadership is continued and enhanced."
The appointment of a new Group CEO was overseen by the Barclays Board Nominations Committee, which was chaired by Barclays Deputy Chairman and Senior Independent Director, Sir Michael Rake.
Commenting on behalf of the Board Nominations Committee, Sir Michael Rake said:
"The Nominations Committee has conducted a wide-ranging search process and considered the credentials of multiple strong candidates to be the next Group CEO of Barclays. This is a huge, complex, and challenging role, leading one of the largest and most important financial institutions in the world, and my colleagues and I took the responsibility of finding an outstanding leader for Barclays extremely seriously. We are unanimous in our view that Jes Staley is the right man for that role, we wish him every success, and he will have our full support."
There are no other details that are required to be disclosed in respect of Mr Staley's appointment under Paragraph 9.6.13 of the Listing Rules of the UK Listing Authority save as disclosed in this announcement and the Notes to Editors.
ENDS
http://www.moneyam.com/action/news/showArticle?id=5140584
Barclays PLC
James E. Staley appointed as Group Chief Executive
Barclays PLC and Barclays Bank PLC ("Barclays") announce that Mr James E. Staley (Jes Staley) has been appointed as Group Chief Executive Officer of Barclays. Mr Staley will take up his role, and join the Barclays Boards as a Director, with effect from 1 December 2015.
Mr Staley has nearly four decades of extensive experience in banking and financial services. He worked for over 30 years at J.P. Morgan initially training as a commercial banker, and later advancing to the leadership of major businesses involving Equities, Private Banking and Asset Management, and ultimately heading the company's Global Investment Bank. He is currently Managing Partner of BlueMountain Capital.
Commenting on the appointment, Barclays Chairman John McFarlane said:
"Barclays is an incredibly important, broad and complex business. Appointing an individual with the business scope, seasoning and track record is a difficult challenge. In Jes Staley we believe we have an executive with the appropriate leadership talent and wide-ranging experience to deliver shareholder value and to take the Group forward strategically. In particular, he understands corporate and investment banking well, the re-positioning of which is one of our major priorities. After an extended process, I now know Jes well, and we are in agreement on the way forward. He is a man of enormous integrity, and someone who both understands the business, but also the importance of cultural reform and the need to conduct our business in a way that we can all be proud of. I look forward to working with him in what will be an exciting and important period for our company as we seek to accelerate the delivery of improved shareholder returns."
Commenting today, Barclays Group CEO-Designate Jes Staley said:
"It is an honour to be chosen to lead Barclays, an institution with an extraordinary legacy of 325 years in existence. I look forward to building on this heritage and to working with the company's dedicated and deeply talented employees to deliver the highest quality financial services to the bank's customers and clients, with integrity and skill.
We will be committed to preserving and enhancing the trust that is the foundation of Barclays' reputation. Stability and long-term orientation are cornerstones for this great institution. We must recognise Barclays' special obligation to those principles. We must also continue the focus on shareholder returns which John McFarlane has mandated. Barclays is a very valuable franchise: from its retail and commercial banking presence in the UK, its strength in cards and payments, its strong position in Africa, to its Investment Bank. Maximising the potential of this franchise means building on our competitive advantages and developing new ones in order to generate strong returns on capital. If we do this, increased value for our shareholders will follow at the same time as Barclays' long history of leadership is continued and enhanced."
The appointment of a new Group CEO was overseen by the Barclays Board Nominations Committee, which was chaired by Barclays Deputy Chairman and Senior Independent Director, Sir Michael Rake.
Commenting on behalf of the Board Nominations Committee, Sir Michael Rake said:
"The Nominations Committee has conducted a wide-ranging search process and considered the credentials of multiple strong candidates to be the next Group CEO of Barclays. This is a huge, complex, and challenging role, leading one of the largest and most important financial institutions in the world, and my colleagues and I took the responsibility of finding an outstanding leader for Barclays extremely seriously. We are unanimous in our view that Jes Staley is the right man for that role, we wish him every success, and he will have our full support."
There are no other details that are required to be disclosed in respect of Mr Staley's appointment under Paragraph 9.6.13 of the Listing Rules of the UK Listing Authority save as disclosed in this announcement and the Notes to Editors.
ENDS
http://www.moneyam.com/action/news/showArticle?id=5140584
banjomick
- 28 Oct 2015 14:13
- 20 of 111
Barclays Confirms Jes Staley as CEO
By Max Colchester
Updated Oct. 28, 2015 8:14 a.m. ET
LONDON— Barclays PLC on Wednesday appointed former J.P. Morgan Chase & Co. banker James Staley as its new chief executive, with a mandate to eke out profits at its stuttering investment bank.
Mr. Staley, who will join Barclays on Dec. 1, will be tasked with pushing through a radical overhaul of the U.K. bank following pressure from regulators. In a letter to employees, he pledged to boost shareholder returns at the bank and reaffirmed the “repositioning of the investment bank to a less-capital-intensive model.”
The U.K. lender said Mr. Staley will receive a pay package worth up to £8.24 million ($12.60 million) a year.
Mr. Staley’s appointment, news of which was leaked earlier this month, marks the return of a U.S. banker to the helm of one of the U.K.’s last remaining universal banks.
The 58-year-old, known as “Jes,” worked his way up the ladder over more than three decades at J.P. Morgan, rising to run its asset-management unit before taking over the reins of its investment bank in 2009. He later joined hedge fund BlueMountain Capital Management LLC.
His investment-banking experience could prove key as Barclays looks to rejig its franchise.
“He understands corporate and investment banking well, the repositioning of which is one of our major priorities,” said Barclays Chairman John McFarlane. “After an extended process, I now know Jes well, and we are in agreement on the way forward.”
Mr. Staley joins at a bumpy time for Barclays. His predecessor, Antony Jenkins, was dismissed by the board this summer over concerns that he couldn’t push through the overhaul that the bank needed.
Among the challenges Mr. Staley faces is slimming down the lender’s investment bank, which was built up by U.S.-born former CEO Bob Diamond before his resignation in 2012. He will be tasked with pressing ahead with a plan to keep the investment bank’s assets to no more than 30% of the company’s total risk-weighted assets, down from just over half.
Barclays’s Asian and Latin American investment-banking operations are likely to come under scrutiny in the coming months as management continues to cut costs, analysts say. On Wednesday, a Barclays private-equity business specialized in energy and commodities investments announced a management buyout.
Mr. Staley’s peers believe his understanding of the complexities of investment banking will serve him well. “He was a leader during the most difficult days of 2008 and 2009, and he will carry those lessons with him as CEO,” said Daniel Pinto, the chief executive of J.P Morgan’s corporate and investment bank.
Nevertheless, last week Mr. McFarlane looked to play down Mr. Staley’s investment-banking credentials, as U.K. politicians voiced fears the bank would revert to an overreliance on the unit, the source of several damaging scandals.
“He is a client guy,” Mr. McFarlane said last week, pointing to Mr. Staley’s track record in asset management and private banking. Mr. Staley will have to get to grips with Barclays’s large corporate and retail banking business, a major source of profit.
In 2012, after leaving J.P. Morgan, Mr. Staley applied to become Barclays’s CEO but was rebuffed, in part because the British bank was worried about the public reaction to having to buy him out of his deferred J.P. Morgan shares.
Mr. Staley will be paid a base salary of £1.2 million and role-based pay of £1.15 million in shares. The bank will buy Mr. Staley out of his unvested J.P Morgan shares by giving him Barclays stock worth £1.93 million.
—Ian Walker contributed to this article.
By Max Colchester
Updated Oct. 28, 2015 8:14 a.m. ET
LONDON— Barclays PLC on Wednesday appointed former J.P. Morgan Chase & Co. banker James Staley as its new chief executive, with a mandate to eke out profits at its stuttering investment bank.
Mr. Staley, who will join Barclays on Dec. 1, will be tasked with pushing through a radical overhaul of the U.K. bank following pressure from regulators. In a letter to employees, he pledged to boost shareholder returns at the bank and reaffirmed the “repositioning of the investment bank to a less-capital-intensive model.”
The U.K. lender said Mr. Staley will receive a pay package worth up to £8.24 million ($12.60 million) a year.
Mr. Staley’s appointment, news of which was leaked earlier this month, marks the return of a U.S. banker to the helm of one of the U.K.’s last remaining universal banks.
The 58-year-old, known as “Jes,” worked his way up the ladder over more than three decades at J.P. Morgan, rising to run its asset-management unit before taking over the reins of its investment bank in 2009. He later joined hedge fund BlueMountain Capital Management LLC.
His investment-banking experience could prove key as Barclays looks to rejig its franchise.
“He understands corporate and investment banking well, the repositioning of which is one of our major priorities,” said Barclays Chairman John McFarlane. “After an extended process, I now know Jes well, and we are in agreement on the way forward.”
Mr. Staley joins at a bumpy time for Barclays. His predecessor, Antony Jenkins, was dismissed by the board this summer over concerns that he couldn’t push through the overhaul that the bank needed.
Among the challenges Mr. Staley faces is slimming down the lender’s investment bank, which was built up by U.S.-born former CEO Bob Diamond before his resignation in 2012. He will be tasked with pressing ahead with a plan to keep the investment bank’s assets to no more than 30% of the company’s total risk-weighted assets, down from just over half.
Barclays’s Asian and Latin American investment-banking operations are likely to come under scrutiny in the coming months as management continues to cut costs, analysts say. On Wednesday, a Barclays private-equity business specialized in energy and commodities investments announced a management buyout.
Mr. Staley’s peers believe his understanding of the complexities of investment banking will serve him well. “He was a leader during the most difficult days of 2008 and 2009, and he will carry those lessons with him as CEO,” said Daniel Pinto, the chief executive of J.P Morgan’s corporate and investment bank.
Nevertheless, last week Mr. McFarlane looked to play down Mr. Staley’s investment-banking credentials, as U.K. politicians voiced fears the bank would revert to an overreliance on the unit, the source of several damaging scandals.
“He is a client guy,” Mr. McFarlane said last week, pointing to Mr. Staley’s track record in asset management and private banking. Mr. Staley will have to get to grips with Barclays’s large corporate and retail banking business, a major source of profit.
In 2012, after leaving J.P. Morgan, Mr. Staley applied to become Barclays’s CEO but was rebuffed, in part because the British bank was worried about the public reaction to having to buy him out of his deferred J.P. Morgan shares.
Mr. Staley will be paid a base salary of £1.2 million and role-based pay of £1.15 million in shares. The bank will buy Mr. Staley out of his unvested J.P Morgan shares by giving him Barclays stock worth £1.93 million.
—Ian Walker contributed to this article.
banjomick
- 28 Oct 2015 14:53
- 21 of 111
banjomick
- 29 Oct 2015 07:47
- 22 of 111
Performance Highlights
Chairman's Review
"Today's results show another quarter of progress in our Core businesses alongside the early effects of some of the changes that we are making.
We are pleased that Jes Staley will join us on 1 December as Group Chief Executive Officer, earlier than expected, and we are in the final stage of appointing a Senior Independent Director and Deputy Chairman to replace Sir Mike Rake on his retirement from the Board in the near future.
As we align Barclays around our three priorities - focus on core (segments and markets), generating shareholder value, and instilling a high performance culture with strong ethical values - we now have a forward agenda that has been discussed and agreed with Mr. Staley.
We will update the market on our plans for structural reform after we have agreed them with the regulator.
Now that we have a new CEO in place, we will provide further updates on future direction at the full year results."
John McFarlane, Chairman
****************************************************
4% growth in Group adjusted profit before tax to £5,156m was achieved in the nine months to 30 September 2015, reflecting improvements in all Core operating businesses. Group adjusted return on average shareholders' equity increased to 7.1% (2014: 6.3%)
A 5% reduction in Group total adjusted operating expenses to £12,465m and a 4% reduction in operating expenses excluding costs to achieve to £11,926m were driven by savings from strategic cost programmes
Profit before tax in the Core business improved 7% to £6,005m with higher income and lower costs. Combined with the increase in average allocated equity of £6bn to £47bn, this resulted in a return on average equity for the Core business of 10.5% (2014: 10.5%)
Rundown of the Non-Core business continued, with risk weighted assets (RWAs) decreasing to £55bn (30 June 2015: £57bn). The announced sale of the Portuguese retail business in Q315, due to be completed in Q116, is expected to result in a further £1.7bn reduction in Non-Core RWAs. Period end allocated equity reduced to £9bn
Group capital and leverage metrics remained above the 2016 targets, with the fully loaded common equity tier 1 (CET1) ratio at 11.1% (30 June 2015: 11.1%) and the leverage ratio increasing to 4.2% (30 June 2015: 4.1%)
Net tangible asset value per share increased to 289p (30 June 2015: 279p) driven by profit generated for the period and favourable reserve movements
Statutory profit before tax increased 7% to £3,975m, which reflected net losses on adjusting items of £1,181m (2014: £1,217m)
Significant Q315 adjusting items:
Additional provisions of £270m were made in Q315 relating to the settlement of two residential mortgage backed securities claims with the National Credit Union Administration and the settlement of certain legacy benchmark litigation, taking the total additional provisions for ongoing investigations and litigation including Foreign Exchange in 2015 to £1,070m (2014: £500m)
Additional UK customer redress provisions of £290m were made in Q315 as a result of an internal review relating to rates provided to certain customers on foreign exchange transactions between 2005 and 2012, taking the total provisions for UK customer redress in 2015 to £1,322m (2014: £910m). No additional Performance Highlightsprovisions for PPI redress were made in Q315
A loss on sale of £201m was recognised in Q315 relating to the announced sale of the Portuguese retail business within Non-Core, which is due to complete in Q116. This is in addition to the loss of £118m recognised in H115 relating to the sale of the Spanish business
http://www.moneyam.com/action/news/showArticle?id=5141422
Also:
Chairman's Review
"Today's results show another quarter of progress in our Core businesses alongside the early effects of some of the changes that we are making.
We are pleased that Jes Staley will join us on 1 December as Group Chief Executive Officer, earlier than expected, and we are in the final stage of appointing a Senior Independent Director and Deputy Chairman to replace Sir Mike Rake on his retirement from the Board in the near future.
As we align Barclays around our three priorities - focus on core (segments and markets), generating shareholder value, and instilling a high performance culture with strong ethical values - we now have a forward agenda that has been discussed and agreed with Mr. Staley.
We will update the market on our plans for structural reform after we have agreed them with the regulator.
Now that we have a new CEO in place, we will provide further updates on future direction at the full year results."
John McFarlane, Chairman
****************************************************
4% growth in Group adjusted profit before tax to £5,156m was achieved in the nine months to 30 September 2015, reflecting improvements in all Core operating businesses. Group adjusted return on average shareholders' equity increased to 7.1% (2014: 6.3%)
A 5% reduction in Group total adjusted operating expenses to £12,465m and a 4% reduction in operating expenses excluding costs to achieve to £11,926m were driven by savings from strategic cost programmes
Profit before tax in the Core business improved 7% to £6,005m with higher income and lower costs. Combined with the increase in average allocated equity of £6bn to £47bn, this resulted in a return on average equity for the Core business of 10.5% (2014: 10.5%)
Rundown of the Non-Core business continued, with risk weighted assets (RWAs) decreasing to £55bn (30 June 2015: £57bn). The announced sale of the Portuguese retail business in Q315, due to be completed in Q116, is expected to result in a further £1.7bn reduction in Non-Core RWAs. Period end allocated equity reduced to £9bn
Group capital and leverage metrics remained above the 2016 targets, with the fully loaded common equity tier 1 (CET1) ratio at 11.1% (30 June 2015: 11.1%) and the leverage ratio increasing to 4.2% (30 June 2015: 4.1%)
Net tangible asset value per share increased to 289p (30 June 2015: 279p) driven by profit generated for the period and favourable reserve movements
Statutory profit before tax increased 7% to £3,975m, which reflected net losses on adjusting items of £1,181m (2014: £1,217m)
Significant Q315 adjusting items:
Additional provisions of £270m were made in Q315 relating to the settlement of two residential mortgage backed securities claims with the National Credit Union Administration and the settlement of certain legacy benchmark litigation, taking the total additional provisions for ongoing investigations and litigation including Foreign Exchange in 2015 to £1,070m (2014: £500m)
Additional UK customer redress provisions of £290m were made in Q315 as a result of an internal review relating to rates provided to certain customers on foreign exchange transactions between 2005 and 2012, taking the total provisions for UK customer redress in 2015 to £1,322m (2014: £910m). No additional Performance Highlightsprovisions for PPI redress were made in Q315
A loss on sale of £201m was recognised in Q315 relating to the announced sale of the Portuguese retail business within Non-Core, which is due to complete in Q116. This is in addition to the loss of £118m recognised in H115 relating to the sale of the Spanish business
http://www.moneyam.com/action/news/showArticle?id=5141422
Also:
banjomick
- 29 Oct 2015 07:59
- 23 of 111
Barclays adj. pretax profits rise
Barclays reports 4% growth in group adjusted profit before tax to £5,156m in the nine months to 30 September, reflecting improvements in all core operating businesses.
Group adjusted return on average shareholders' equity increased to 7.1% (2014: 6.3%).
The group saw a 5% reduction in total adjusted operating expenses to £12,465m and a 4% reduction in operating expenses excluding costs to achieve to £11,926m were driven by savings from strategic cost programmes.
Profit before tax in the Core business improved 7% to £6,005m with higher income and lower costs. Combined with the increase in average allocated equity of £6bn to £47bn, this resulted in a return on average equity for the Core business of 10.5% (2014: 10.5%).
The rundown of the Non-Core business continued, with risk weighted assets (RWAs) decreasing to £55bn (30 June 2015: £57bn). The announced sale of the Portuguese retail business in Q315, due to be completed in Q116, is expected to result in a further £1.7bn reduction in Non-Core RWAs. Period end allocated equity reduced to £9bn.
Group capital and leverage metrics remained above the 2016 targets, with the fully loaded common equity tier 1 (CET1) ratio at 11.1% (30 June 2015: 11.1%) and the leverage ratio increasing to 4.2% (30 June 2015: 4.1%).
Net tangible asset value per share increased to 289p (30 June 2015: 279p) driven by profit generated for the period and favourable reserve movements. Statutory profit before tax increased 7% to £3,975m, which reflected net losses on adjusting items of £1,181m (2014: £1,217m).
Chairman John McFarlane said: "Today's results show another quarter of progress in our Core businesses alongside the early effects of some of the changes that we are making.
"We are pleased that Jes Staley will join us on 1 December as Group Chief Executive Officer, earlier than expected, and we are in the final stage of appointing a Senior Independent Director and Deputy Chairman to replace Sir Mike Rake on his retirement from the Board in the near future.
"As we align Barclays around our three priorities - focus on core (segments and markets), generating shareholder value, and instilling a high performance culture with strong ethical values - we now have a forward agenda that has been discussed and agreed with Mr. Staley.
"We will update the market on our plans for structural reform after we have agreed them with the regulator.
"Now that we have a new CEO in place, we will provide further updates on future direction at the full year results."
http://www.moneyam.com/action/news/showArticle?id=5141543
Barclays reports 4% growth in group adjusted profit before tax to £5,156m in the nine months to 30 September, reflecting improvements in all core operating businesses.
Group adjusted return on average shareholders' equity increased to 7.1% (2014: 6.3%).
The group saw a 5% reduction in total adjusted operating expenses to £12,465m and a 4% reduction in operating expenses excluding costs to achieve to £11,926m were driven by savings from strategic cost programmes.
Profit before tax in the Core business improved 7% to £6,005m with higher income and lower costs. Combined with the increase in average allocated equity of £6bn to £47bn, this resulted in a return on average equity for the Core business of 10.5% (2014: 10.5%).
The rundown of the Non-Core business continued, with risk weighted assets (RWAs) decreasing to £55bn (30 June 2015: £57bn). The announced sale of the Portuguese retail business in Q315, due to be completed in Q116, is expected to result in a further £1.7bn reduction in Non-Core RWAs. Period end allocated equity reduced to £9bn.
Group capital and leverage metrics remained above the 2016 targets, with the fully loaded common equity tier 1 (CET1) ratio at 11.1% (30 June 2015: 11.1%) and the leverage ratio increasing to 4.2% (30 June 2015: 4.1%).
Net tangible asset value per share increased to 289p (30 June 2015: 279p) driven by profit generated for the period and favourable reserve movements. Statutory profit before tax increased 7% to £3,975m, which reflected net losses on adjusting items of £1,181m (2014: £1,217m).
Chairman John McFarlane said: "Today's results show another quarter of progress in our Core businesses alongside the early effects of some of the changes that we are making.
"We are pleased that Jes Staley will join us on 1 December as Group Chief Executive Officer, earlier than expected, and we are in the final stage of appointing a Senior Independent Director and Deputy Chairman to replace Sir Mike Rake on his retirement from the Board in the near future.
"As we align Barclays around our three priorities - focus on core (segments and markets), generating shareholder value, and instilling a high performance culture with strong ethical values - we now have a forward agenda that has been discussed and agreed with Mr. Staley.
"We will update the market on our plans for structural reform after we have agreed them with the regulator.
"Now that we have a new CEO in place, we will provide further updates on future direction at the full year results."
http://www.moneyam.com/action/news/showArticle?id=5141543
banjomick
- 29 Oct 2015 17:05
- 24 of 111
Thursday, 5 November 2015 Ex-dividend date
Friday, 6 November 2015 Record date
https://www.home.barclays/barclays-investor-relations/shareholder-information/dividends.html
Friday, 6 November 2015 Record date
https://www.home.barclays/barclays-investor-relations/shareholder-information/dividends.html
banjomick
- 29 Oct 2015 22:35
- 25 of 111
Visa Nears $22 Billion Deal to Buy European Counterpart -- Update
By Dow Jones Business News, October 29, 2015, 05:45:00 PM EDT
Visa Inc. is close to clinching the biggest deal in its history--by buying a company named Visa.
The Foster City, Calif.-based payments network is in advanced negotiations to buy its European counterpart--Visa Europe--for about $22 billion in a deal that would unite Visa's global operations under one roof, according to people familiar with the matter.
Visa Inc., which has held sporadic talks over the years with Visa Europe, confirmed in recent months that it was moving ahead with negotiations and would try to finish the deal by the end of October. Analysts say that they expect a deal could be announced as soon as Monday when Visa releases its quarterly results.
Visa Inc., which usually reports its fiscal fourth-quarter earnings in late October, won't report results until Nov. 2, prompting some speculation that it will announce a deal then. In addition, the company usually announces its earnings after the close of the market, but is now planning to issue them in the morning, during Europe's afternoon.
Analysts are betting that both sides are motivated enough to close the transaction.
"This deal has come and gone many times, but it is hard to imagine, when they have come this far, what could happen to make either side walk away, " said Lisa Ellis, a payments analyst at Sanford C. Bernstein & Co.
Large deals valued at $10 billion or more have been rare for financial companies since the 2008 crisis and basically unheard of among the big credit-card networks, Visa, MasterCard Inc., American Express Co. and Discover Financial Services.
Visa's largest acquisition was its $2 billion deal to buy Cybersource, a provider of security services to online merchants, in 2010.
The purchase could have widespread implications for both Visa and MasterCard in Europe, where payments systems remain relatively fragmented.
Visa Inc.'s acquisition of Visa Europe is expected to serve as a trigger for both Visa and MasterCard to push European consumers and businesses toward electronic payments.
It would also likely invigorate the longtime rivalry between the two companies as they court the business of thousands of European financial firms that now own a majority stake of Visa Europe, according to analysts.
"It's pretty clear that the opportunities for MasterCard should outweigh any concerns" about enhanced competition from a unified Visa, said Darrin Peller, an analyst at Barclays Capital Inc.
A spokeswoman for Visa Inc. declined to comment on the timing of a deal.
"At this stage, there is no certainty about the outcome of those discussions, and Visa Europe remains focused on continuing to develop its business," said a spokeswoman for Visa Europe.
MasterCard already operates as a unified company around the world, and sees opportunity in a Visa change. MasterCard Chief Executive Officer Ajay Banga said Thursday morning on an earnings call that a unified Visa "will change the competitive landscape," but that the integration "will take some energy, effort and dedication."
The proceeds from any sale would come in handy for some European banks, many of which are dealing with financial struggles or varying levels of restructuring. Barclays PLC, the largest stakeholder in Visa Europe, stands to make more than GBP1 billion ($1.5 billion) in the deal, according to a person familiar with the planned transaction.
For years, Visa Inc. and Visa Europe operated under the same umbrella company called Visa International Service Association. That changed in 2007 when Visa's U.S. operations began moving from a bank-owned cooperative to a publicly traded company.
Visa's other operations around the world united under the name Visa Inc., but the European entity remained separate.
The companies however remained intertwined, sharing research and development, the Visa brand name, and other operations that let consumers use their cards without interruption around the world.
As part of its transition to a public company, Visa Inc. granted Visa Europe a put option that would force the U.S. entity to buy the European one in certain circumstances.
Analysts say Visa is well-positioned to buy its counterpart, helped by the strong U.S. dollar and the availability of cheap debt financing for any deal.
Analysts speculate that European financial firms ultimately will see higher rates once they no longer own the European Visa network. The financial firms pay the card networks for transactions.
Margot Patrick contributed to this article.
By Dow Jones Business News, October 29, 2015, 05:45:00 PM EDT
Visa Inc. is close to clinching the biggest deal in its history--by buying a company named Visa.
The Foster City, Calif.-based payments network is in advanced negotiations to buy its European counterpart--Visa Europe--for about $22 billion in a deal that would unite Visa's global operations under one roof, according to people familiar with the matter.
Visa Inc., which has held sporadic talks over the years with Visa Europe, confirmed in recent months that it was moving ahead with negotiations and would try to finish the deal by the end of October. Analysts say that they expect a deal could be announced as soon as Monday when Visa releases its quarterly results.
Visa Inc., which usually reports its fiscal fourth-quarter earnings in late October, won't report results until Nov. 2, prompting some speculation that it will announce a deal then. In addition, the company usually announces its earnings after the close of the market, but is now planning to issue them in the morning, during Europe's afternoon.
Analysts are betting that both sides are motivated enough to close the transaction.
"This deal has come and gone many times, but it is hard to imagine, when they have come this far, what could happen to make either side walk away, " said Lisa Ellis, a payments analyst at Sanford C. Bernstein & Co.
Large deals valued at $10 billion or more have been rare for financial companies since the 2008 crisis and basically unheard of among the big credit-card networks, Visa, MasterCard Inc., American Express Co. and Discover Financial Services.
Visa's largest acquisition was its $2 billion deal to buy Cybersource, a provider of security services to online merchants, in 2010.
The purchase could have widespread implications for both Visa and MasterCard in Europe, where payments systems remain relatively fragmented.
Visa Inc.'s acquisition of Visa Europe is expected to serve as a trigger for both Visa and MasterCard to push European consumers and businesses toward electronic payments.
It would also likely invigorate the longtime rivalry between the two companies as they court the business of thousands of European financial firms that now own a majority stake of Visa Europe, according to analysts.
"It's pretty clear that the opportunities for MasterCard should outweigh any concerns" about enhanced competition from a unified Visa, said Darrin Peller, an analyst at Barclays Capital Inc.
A spokeswoman for Visa Inc. declined to comment on the timing of a deal.
"At this stage, there is no certainty about the outcome of those discussions, and Visa Europe remains focused on continuing to develop its business," said a spokeswoman for Visa Europe.
MasterCard already operates as a unified company around the world, and sees opportunity in a Visa change. MasterCard Chief Executive Officer Ajay Banga said Thursday morning on an earnings call that a unified Visa "will change the competitive landscape," but that the integration "will take some energy, effort and dedication."
The proceeds from any sale would come in handy for some European banks, many of which are dealing with financial struggles or varying levels of restructuring. Barclays PLC, the largest stakeholder in Visa Europe, stands to make more than GBP1 billion ($1.5 billion) in the deal, according to a person familiar with the planned transaction.
For years, Visa Inc. and Visa Europe operated under the same umbrella company called Visa International Service Association. That changed in 2007 when Visa's U.S. operations began moving from a bank-owned cooperative to a publicly traded company.
Visa's other operations around the world united under the name Visa Inc., but the European entity remained separate.
The companies however remained intertwined, sharing research and development, the Visa brand name, and other operations that let consumers use their cards without interruption around the world.
As part of its transition to a public company, Visa Inc. granted Visa Europe a put option that would force the U.S. entity to buy the European one in certain circumstances.
Analysts say Visa is well-positioned to buy its counterpart, helped by the strong U.S. dollar and the availability of cheap debt financing for any deal.
Analysts speculate that European financial firms ultimately will see higher rates once they no longer own the European Visa network. The financial firms pay the card networks for transactions.
Margot Patrick contributed to this article.
banjomick
- 02 Nov 2015 12:57
- 26 of 111
2 November 2015
Barclays PLC
Proposed acquisition of Visa Europe Limited by Visa Inc.
Barclays notes today's announcement by Visa Inc. regarding its proposed acquisition of Visa Europe Limited, subject to regulatory approvals. Barclays Bank PLC is a shareholder and member of Visa Europe.
As set out in the announcement by Visa Inc., upfront consideration receivable on completion will comprise cash and preferred stock convertible into Visa Inc. class A common stock. Additional deferred cash consideration may also be payable following the fourth anniversary of closing subject to an earn-out mechanism. The preferred stock and earn-out elements of the consideration are contingent upon certain factors. We currently expect to report a post-tax profit of approximately £0.4bn on completion of the transaction (expected to be in 2016).
http://www.moneyam.com/action/news/showArticle?id=5143983
Barclays PLC
Proposed acquisition of Visa Europe Limited by Visa Inc.
Barclays notes today's announcement by Visa Inc. regarding its proposed acquisition of Visa Europe Limited, subject to regulatory approvals. Barclays Bank PLC is a shareholder and member of Visa Europe.
As set out in the announcement by Visa Inc., upfront consideration receivable on completion will comprise cash and preferred stock convertible into Visa Inc. class A common stock. Additional deferred cash consideration may also be payable following the fourth anniversary of closing subject to an earn-out mechanism. The preferred stock and earn-out elements of the consideration are contingent upon certain factors. We currently expect to report a post-tax profit of approximately £0.4bn on completion of the transaction (expected to be in 2016).
http://www.moneyam.com/action/news/showArticle?id=5143983
banjomick
- 05 Nov 2015 12:29
- 27 of 111
5 November 2015 (10:00)
Barclays PLC
Barclays PLC ("the Company") announces that on 4 November 2015 Jes Staley, CEO designate, notified Barclays that on 4 November 2015 he purchased 2,790,000 ordinary shares in the Company with a nominal value of 25 pence each ("the Shares"). The average market price of the Shares was £2.3300 per share and the place of trading was the London Stock Exchange.
Following this transaction, Jes Staley holds 2,790,000 Shares.
http://www.moneyam.com/action/news/showArticle?id=5147009
Barclays PLC
Barclays PLC ("the Company") announces that on 4 November 2015 Jes Staley, CEO designate, notified Barclays that on 4 November 2015 he purchased 2,790,000 ordinary shares in the Company with a nominal value of 25 pence each ("the Shares"). The average market price of the Shares was £2.3300 per share and the place of trading was the London Stock Exchange.
Following this transaction, Jes Staley holds 2,790,000 Shares.
http://www.moneyam.com/action/news/showArticle?id=5147009
banjomick
- 05 Nov 2015 16:27
- 28 of 111
Barclays Incoming CEO Staley Buys $10 Million of Bank's Shares
by Stephen Morris
November 5, 2015
.Staley buys 2,790,000 ordinary shares at 233 pence apiece
.CEO has requirement to hold four-times basic salary in stock
Barclays Plc’s incoming Chief Executive Officer Jes Staley bought 6.5 million pounds ($10 million) of shares to fulfill a requirement that top executives hold a sizable long-term stake in the company.
The CEO purchased 2,790,000 shares at Wednesday’s average price of 233 pence in his first acquisition of the bank’s stock before he takes over on Dec. 1, the London-based lender said in a statement Thursday. The CEO and Finance Director Tushar Morzaria have to hold at least four times their basic salary in stock to ensure their interests are aligned with investors, according to Joanne Walia, a company spokeswoman.
Staley, 58, was named the successor to Antony Jenkins on Oct. 28 with a mandate to continue cutting costs and shrink the investment bank at the U.K.’s second-biggest lender. Barclays has been struggling to boost investor returns as low economic growth, new regulations and misconduct fines eat into its profit.
Staley could earn as much as 8.25 million pounds a year at Barclays in total compensation, about 14 percent more than his predecessor Jenkins. He will receive fixed pay of 2.75 million pounds with a 1.2 million-pound basic salary. That means the CEO would have to hold at least 4.8 million pounds in bank stock within five years of taking the job, to comply by Barclays’s rules.
On top of fixed compensation, Staley could earn incentive pay of up to 5.5 million pounds, including a 2.2 million-pound bonus in cash and shares, and a long-term incentive plan that could reach 3.3 million pounds in shares paid three years later. Staley will also get 1.93 million pounds of Barclays stock to buy him out of his unvested share award at JPMorgan Chase & Co.
by Stephen Morris
November 5, 2015
.Staley buys 2,790,000 ordinary shares at 233 pence apiece
.CEO has requirement to hold four-times basic salary in stock
Barclays Plc’s incoming Chief Executive Officer Jes Staley bought 6.5 million pounds ($10 million) of shares to fulfill a requirement that top executives hold a sizable long-term stake in the company.
The CEO purchased 2,790,000 shares at Wednesday’s average price of 233 pence in his first acquisition of the bank’s stock before he takes over on Dec. 1, the London-based lender said in a statement Thursday. The CEO and Finance Director Tushar Morzaria have to hold at least four times their basic salary in stock to ensure their interests are aligned with investors, according to Joanne Walia, a company spokeswoman.
Staley, 58, was named the successor to Antony Jenkins on Oct. 28 with a mandate to continue cutting costs and shrink the investment bank at the U.K.’s second-biggest lender. Barclays has been struggling to boost investor returns as low economic growth, new regulations and misconduct fines eat into its profit.
Staley could earn as much as 8.25 million pounds a year at Barclays in total compensation, about 14 percent more than his predecessor Jenkins. He will receive fixed pay of 2.75 million pounds with a 1.2 million-pound basic salary. That means the CEO would have to hold at least 4.8 million pounds in bank stock within five years of taking the job, to comply by Barclays’s rules.
On top of fixed compensation, Staley could earn incentive pay of up to 5.5 million pounds, including a 2.2 million-pound bonus in cash and shares, and a long-term incentive plan that could reach 3.3 million pounds in shares paid three years later. Staley will also get 1.93 million pounds of Barclays stock to buy him out of his unvested share award at JPMorgan Chase & Co.
banjomick
- 06 Nov 2015 15:59
- 29 of 111
Barclays Christmas Survey 2015 reveals retailers all set for Christmas trading period to begin
05 Nov 2015 12:00
A record 77% of UK retailers are more confident about Christmas trading this year compared to last year, and 79% expect revenue to increase
•77% of UK retailers also say they will hold a Black Friday promotion, with 69% predicting sales will rise compared to Black Friday 2014; only 4% predict a fall
•The majority of retailers expect mobile to be the channel experiencing the biggest sales growth (56%)
•Click and collect expected to be the delivery channel with the biggest growth, experiencing a predicted 25% increase compared to 2014
New research from Barclays has revealed confidence is high in the retail sector as the Christmas period approaches. More than three quarters of retailers reported that they are more confident about Christmas trading this year (77%), and an even higher proportion (79%) expect revenue to increase, with 14% predicting their revenue will rise by more than 10%.
The Barclays Christmas Survey also examined the growing significance of Black Friday, the initiative imported from the USA, which sees significant discounts from many retailers on the fourth Friday in November. Black Friday has rapidly established itself as an annual fixture on the UK retail calendar and the survey reveals the extent to which it has made its mark in the UK. 77% of UK retailers plan to hold a Black Friday promotion this year, up from 73% last year, with 69% expecting sales to rise compared to Black Friday 2014, and only 4% of those surveyed anticipating a fall.
Link to full News Release:
http://www.newsroom.barclays.com/r/3258/barclays_christmas_survey_2015_reveals_retailers_all_set
05 Nov 2015 12:00
A record 77% of UK retailers are more confident about Christmas trading this year compared to last year, and 79% expect revenue to increase
•77% of UK retailers also say they will hold a Black Friday promotion, with 69% predicting sales will rise compared to Black Friday 2014; only 4% predict a fall
•The majority of retailers expect mobile to be the channel experiencing the biggest sales growth (56%)
•Click and collect expected to be the delivery channel with the biggest growth, experiencing a predicted 25% increase compared to 2014
New research from Barclays has revealed confidence is high in the retail sector as the Christmas period approaches. More than three quarters of retailers reported that they are more confident about Christmas trading this year (77%), and an even higher proportion (79%) expect revenue to increase, with 14% predicting their revenue will rise by more than 10%.
The Barclays Christmas Survey also examined the growing significance of Black Friday, the initiative imported from the USA, which sees significant discounts from many retailers on the fourth Friday in November. Black Friday has rapidly established itself as an annual fixture on the UK retail calendar and the survey reveals the extent to which it has made its mark in the UK. 77% of UK retailers plan to hold a Black Friday promotion this year, up from 73% last year, with 69% expecting sales to rise compared to Black Friday 2014, and only 4% of those surveyed anticipating a fall.
Link to full News Release:
http://www.newsroom.barclays.com/r/3258/barclays_christmas_survey_2015_reveals_retailers_all_set
banjomick
- 09 Nov 2015 12:12
- 30 of 111
9 November 2015
Barclays PLC
Sir Gerry Grimstone appointed as a Director to succeed Sir Michael Rake as Senior Independent Director and Deputy Chairman
Barclays PLC and Barclays Bank PLC ("Barclays") announce that Sir Gerry Grimstone has been appointed as a non-executive Director of Barclays with effect from 1 January 2016 and will succeed Sir Michael Rake as Senior Independent Director and Deputy Chairman with effect from 1 January 2016.
Sir Michael Rake will step down as a Director at Barclays with effect from 31 December 2015.
Sir Gerry Grimstone has been Chairman of Standard Life plc since May 2007, having previously been appointed Deputy Chairman in March 2006. Sir Gerry is also an Independent Non-Executive Board Member of Deloitte LLP and the Lead Non‑Executive at the Ministry of Defence.
Previously, Sir Gerry spent 13 years with Schroders in London, Hong Kong and New York, and was Vice Chairman of Schroders' worldwide investment banking activities. Since then he has served on the boards of Bridgewell Group Limited, F&C Global Smaller Companies plc and more recently of Wilmington Capital Limited, Candover Investments plc and TheCityUK. He is also an Advisor to the Abu Dhabi Commercial Bank, which is one of the largest commercial banks in Abu Dhabi.
In addition he has held various positions in the public sector, including at the Department of Health and HM Treasury, and has served on the boards of commercial companies such as Aggregate Industries plc and Dairy Crest plc. He is also a member of the governing bodies of the Financial Services Trade and Investment Board and the Shareholder Executive.
Commenting, John McFarlane said, "I am delighted that Sir Gerry Grimstone has accepted the Board's invitation to join Barclays and to become Deputy Chairman and Senior Independent Director. Sir Gerry commands great respect within the financial services industry and will bring immense experience, integrity and knowledge to the role.
I would like to thank Sir Michael Rake on behalf of the Boards of Barclays PLC and Barclays Bank PLC for his dedicated service and commitment over eight years as a director, including being Senior Independent Director since October 2011 and Deputy Chairman since July 2012. His wise counsel and advice have been invaluable in helping Barclays steer its way through a challenging period for the sector. I am particularly grateful to Mike for successfully overseeing the appointment of a new Chief Executive in Jes Staley."
Sir Gerry Grimstone commented, "I am immensely looking forward to joining the Barclays Boards and to playing my part in delivering Barclays' strategic priorities. I am particularly looking forward to supporting John McFarlane and Jes Staley as they seek to complete the cultural transformation of Barclays and accelerate the delivery of sustainable shareholder returns."
Sir Michael Rake stated, "The last eight years have been an eventful and difficult period for the banking industry. However, Barclays is emerging in a stronger position and I am very confident that it will succeed and prosper under its new leadership. I wish it well for the future."
There are no other details that are required to be disclosed in respect of Sir Gerry Grimstone's appointment under Paragraph 9.6.13 of the Listing Rules of the UK Listing Authority save as disclosed in this announcement.
http://www.moneyam.com/action/news/showArticle?id=5149077
Barclays PLC
Sir Gerry Grimstone appointed as a Director to succeed Sir Michael Rake as Senior Independent Director and Deputy Chairman
Barclays PLC and Barclays Bank PLC ("Barclays") announce that Sir Gerry Grimstone has been appointed as a non-executive Director of Barclays with effect from 1 January 2016 and will succeed Sir Michael Rake as Senior Independent Director and Deputy Chairman with effect from 1 January 2016.
Sir Michael Rake will step down as a Director at Barclays with effect from 31 December 2015.
Sir Gerry Grimstone has been Chairman of Standard Life plc since May 2007, having previously been appointed Deputy Chairman in March 2006. Sir Gerry is also an Independent Non-Executive Board Member of Deloitte LLP and the Lead Non‑Executive at the Ministry of Defence.
Previously, Sir Gerry spent 13 years with Schroders in London, Hong Kong and New York, and was Vice Chairman of Schroders' worldwide investment banking activities. Since then he has served on the boards of Bridgewell Group Limited, F&C Global Smaller Companies plc and more recently of Wilmington Capital Limited, Candover Investments plc and TheCityUK. He is also an Advisor to the Abu Dhabi Commercial Bank, which is one of the largest commercial banks in Abu Dhabi.
In addition he has held various positions in the public sector, including at the Department of Health and HM Treasury, and has served on the boards of commercial companies such as Aggregate Industries plc and Dairy Crest plc. He is also a member of the governing bodies of the Financial Services Trade and Investment Board and the Shareholder Executive.
Commenting, John McFarlane said, "I am delighted that Sir Gerry Grimstone has accepted the Board's invitation to join Barclays and to become Deputy Chairman and Senior Independent Director. Sir Gerry commands great respect within the financial services industry and will bring immense experience, integrity and knowledge to the role.
I would like to thank Sir Michael Rake on behalf of the Boards of Barclays PLC and Barclays Bank PLC for his dedicated service and commitment over eight years as a director, including being Senior Independent Director since October 2011 and Deputy Chairman since July 2012. His wise counsel and advice have been invaluable in helping Barclays steer its way through a challenging period for the sector. I am particularly grateful to Mike for successfully overseeing the appointment of a new Chief Executive in Jes Staley."
Sir Gerry Grimstone commented, "I am immensely looking forward to joining the Barclays Boards and to playing my part in delivering Barclays' strategic priorities. I am particularly looking forward to supporting John McFarlane and Jes Staley as they seek to complete the cultural transformation of Barclays and accelerate the delivery of sustainable shareholder returns."
Sir Michael Rake stated, "The last eight years have been an eventful and difficult period for the banking industry. However, Barclays is emerging in a stronger position and I am very confident that it will succeed and prosper under its new leadership. I wish it well for the future."
There are no other details that are required to be disclosed in respect of Sir Gerry Grimstone's appointment under Paragraph 9.6.13 of the Listing Rules of the UK Listing Authority save as disclosed in this announcement.
http://www.moneyam.com/action/news/showArticle?id=5149077
banjomick
- 17 Nov 2015 09:36
- 31 of 111
Barclays picks new chief operating officer for investment bank
By Steve Slater
Tue Nov 17, 2015 9:09am GMT
Barclays Plc (BARC.L) has promoted the head of its macro markets business to chief operating officer (COO) of its investment bank, tasked with accelerating the restructuring of the business.
The London-based bank has appointed Mike Bagguley as COO for the investment bank with immediate effect, reporting to investment bank chief executive Tom King, according to a memo sent to staff by King and seen by Reuters.
Barclays is slimming down its investment bank to try to cut costs and improve profitability, and King said Bagguley would aim to accelerate delivery of that strategy.
He will also seek to align infrastructure functions and help coordinate and deliver projects and join the investment bank's executive committee, King said.
"Our recent third-quarter results further validate the strategic choices we made last year but there is more to do," King told staff in the memo.
Bagguley has overseen the reduction and reshaping of the macro business, which includes interest rates, foreign exchange and commodities products, as trading revenues across the industry have fallen and tougher regulation hit profitability.
Barclays is one of several banks, including Deutsche Bank (DBKGn.DE) and UBS (UBSG.VX), to cut back trading activities and put more focus on areas that have been less hurt by regulation, such as equities and advisory.
Bagguley joined Barclays in 2001 on the fixed income trading desk in London and has held senior roles in Tokyo, London, New York and Johannesburg.
King said Rob Bogucki and Nat Tyce, co-heads of macro trading, and Kashif Zafar, head of macro distribution, would jointly lead the bank's macro products business.
The investment bank has not had a chief operating officer since Justin Bull left in April.
http://uk.reuters.com/article/2015/11/17/uk-barclays-investmentbank-coo-idUKKCN0T60SU20151117
By Steve Slater
Tue Nov 17, 2015 9:09am GMT
Barclays Plc (BARC.L) has promoted the head of its macro markets business to chief operating officer (COO) of its investment bank, tasked with accelerating the restructuring of the business.
The London-based bank has appointed Mike Bagguley as COO for the investment bank with immediate effect, reporting to investment bank chief executive Tom King, according to a memo sent to staff by King and seen by Reuters.
Barclays is slimming down its investment bank to try to cut costs and improve profitability, and King said Bagguley would aim to accelerate delivery of that strategy.
He will also seek to align infrastructure functions and help coordinate and deliver projects and join the investment bank's executive committee, King said.
"Our recent third-quarter results further validate the strategic choices we made last year but there is more to do," King told staff in the memo.
Bagguley has overseen the reduction and reshaping of the macro business, which includes interest rates, foreign exchange and commodities products, as trading revenues across the industry have fallen and tougher regulation hit profitability.
Barclays is one of several banks, including Deutsche Bank (DBKGn.DE) and UBS (UBSG.VX), to cut back trading activities and put more focus on areas that have been less hurt by regulation, such as equities and advisory.
Bagguley joined Barclays in 2001 on the fixed income trading desk in London and has held senior roles in Tokyo, London, New York and Johannesburg.
King said Rob Bogucki and Nat Tyce, co-heads of macro trading, and Kashif Zafar, head of macro distribution, would jointly lead the bank's macro products business.
The investment bank has not had a chief operating officer since Justin Bull left in April.
http://uk.reuters.com/article/2015/11/17/uk-barclays-investmentbank-coo-idUKKCN0T60SU20151117
banjomick
- 01 Dec 2015 08:01
- 32 of 111
01 December 2015
Barclays PLC
Barclays Bank PLC
Barclays passes 2015 BoE stress test
Barclays PLC and Barclays Bank PLC ("Barclays") note the publication today of stress test outcomes for UK banks by the Bank of England ("BoE"). Under the BoE's assessment of the effects of the modelled adverse stress scenario, Barclays' minimum stressed Common Equity Tier 1 ("CET1") ratio over the period 2015-19 was 7.3% after the impact of strategic management actions.
The minimum stressed CET1 ratio before the impact of strategic management actions of 6.8% exceeded the 4.5% minimum threshold by a significant margin. Given the impact of strategic management actions, conversion of AT1 securities is not triggered in the stress scenario.
Barclays reported a 10.2% PRA Transitional CET1 ratio as at 31 December 2014, which was the starting point for the stress test modelling. This had increased to 11.1% as at 30 September 2015. Barclays continues to target an end state fully loaded CET1 ratio of greater than 12%.
The minimum stressed Tier 1 leverage ratio was calculated at 3.3% after management actions and 3.2% before management actions, both above the 3.0% minimum threshold. Barclays reported a 3.7% Tier 1 leverage ratio as at 31 December 2014, which was the starting point for the stress test modelling. This had increased to 4.2% as at 30 September 2015.
The full year results for 2015 and the Annual Report will be published on 1 March 2016.
The BoE stress test results for UK banks can be found on the BoE website at http://www.bankofengland.co.uk/financialstability/Pages/fpc/stresstest.aspx and Barclays' results are summarised below.
SEE LINK BELOW:
http://www.moneyam.com/action/news/showArticle?id=5164559
Barclays PLC
Barclays Bank PLC
Barclays passes 2015 BoE stress test
Barclays PLC and Barclays Bank PLC ("Barclays") note the publication today of stress test outcomes for UK banks by the Bank of England ("BoE"). Under the BoE's assessment of the effects of the modelled adverse stress scenario, Barclays' minimum stressed Common Equity Tier 1 ("CET1") ratio over the period 2015-19 was 7.3% after the impact of strategic management actions.
The minimum stressed CET1 ratio before the impact of strategic management actions of 6.8% exceeded the 4.5% minimum threshold by a significant margin. Given the impact of strategic management actions, conversion of AT1 securities is not triggered in the stress scenario.
Barclays reported a 10.2% PRA Transitional CET1 ratio as at 31 December 2014, which was the starting point for the stress test modelling. This had increased to 11.1% as at 30 September 2015. Barclays continues to target an end state fully loaded CET1 ratio of greater than 12%.
The minimum stressed Tier 1 leverage ratio was calculated at 3.3% after management actions and 3.2% before management actions, both above the 3.0% minimum threshold. Barclays reported a 3.7% Tier 1 leverage ratio as at 31 December 2014, which was the starting point for the stress test modelling. This had increased to 4.2% as at 30 September 2015.
The full year results for 2015 and the Annual Report will be published on 1 March 2016.
The BoE stress test results for UK banks can be found on the BoE website at http://www.bankofengland.co.uk/financialstability/Pages/fpc/stresstest.aspx and Barclays' results are summarised below.
SEE LINK BELOW:
http://www.moneyam.com/action/news/showArticle?id=5164559
banjomick
- 03 Dec 2015 07:47
- 33 of 111
3 December 2015
Barclays PLC
Barclays announces further Non-Core disposals
Barclays PLC ("Barclays") has today agreed to sell its Italian Retail Banking network of 89 branches, including a broadly balanced portfolio of assets and liabilities, to CheBanca!, a member of the Mediobanca Group.
Barclays will continue to operate investment banking and corporate banking in Italy. It will also continue to manage the remaining retail mortgage portfolio.
The financial impacts of this transaction on Barclays are dependent, among other things, on the balance sheet of the business at completion of the transaction and foreign exchange movements up to completion. The current estimate is that the transaction will result in a 30 September 2015 pro forma decrease in risk weighted assets of approximately £0.8bn on completion, along with a loss after tax of approximately £200m, which will be booked in Q4 2015. The total impact of the transaction once completed is expected to result in a small decrease in Barclays' CET1 ratio and tangible net asset value.
Completion is subject to, among other things, regulatory approvals, and is expected to occur in Q2 2016.
Jes Staley, Barclays Group Chief Executive Officer, said: "This transaction is further evidence of the re-shaping of Barclays Group to focus on our Core businesses. We continue to make progress in the reduction of Barclays Non-Core as we target risk weighted assets of around £20bn at the end of 2017.
"I want to take this opportunity to thank our Italian colleagues in the businesses we are selling for their hard work and professionalism which has built strong customer and client relationships over many years and has made these businesses so attractive to CheBanca!. We are committed to making the transfer to CheBanca! a smooth one for our customers and colleagues."
Barclays Investment Bank and Lazard acted as financial advisers to Barclays on this transaction.
http://www.moneyam.com/action/news/showArticle?id=5166874
Barclays PLC
Barclays announces further Non-Core disposals
Barclays PLC ("Barclays") has today agreed to sell its Italian Retail Banking network of 89 branches, including a broadly balanced portfolio of assets and liabilities, to CheBanca!, a member of the Mediobanca Group.
Barclays will continue to operate investment banking and corporate banking in Italy. It will also continue to manage the remaining retail mortgage portfolio.
The financial impacts of this transaction on Barclays are dependent, among other things, on the balance sheet of the business at completion of the transaction and foreign exchange movements up to completion. The current estimate is that the transaction will result in a 30 September 2015 pro forma decrease in risk weighted assets of approximately £0.8bn on completion, along with a loss after tax of approximately £200m, which will be booked in Q4 2015. The total impact of the transaction once completed is expected to result in a small decrease in Barclays' CET1 ratio and tangible net asset value.
Completion is subject to, among other things, regulatory approvals, and is expected to occur in Q2 2016.
Jes Staley, Barclays Group Chief Executive Officer, said: "This transaction is further evidence of the re-shaping of Barclays Group to focus on our Core businesses. We continue to make progress in the reduction of Barclays Non-Core as we target risk weighted assets of around £20bn at the end of 2017.
"I want to take this opportunity to thank our Italian colleagues in the businesses we are selling for their hard work and professionalism which has built strong customer and client relationships over many years and has made these businesses so attractive to CheBanca!. We are committed to making the transfer to CheBanca! a smooth one for our customers and colleagues."
Barclays Investment Bank and Lazard acted as financial advisers to Barclays on this transaction.
http://www.moneyam.com/action/news/showArticle?id=5166874
| About MoneyAM | Ts and Cs | Privacy Policy | Investment Warning | Content Standards | Corporate Solutions | Advertise With Us | Site Map | © 2025 MoneyAM |
Register now for FREE
Share Prices,
Stock Quotes,
Charts, Bulletin Boards, Indices, Watchlists, Portfolio, Market News, Research
or see our Premium Services including Level 2, Terminal and much more.
Follow us on Twitter