Jenkins Joins Roster of Former CEOs as Banks Look for New Skills

Antony Jenkins
Antony Jenkins, outgoing chief executive officer of Barclays Plc, in Hong Kong. Photographer: Jerome Favre/Bloomberg

Barclays Plc’s ouster of Chief Executive Officer Antony Jenkins adds to an unprecedented wave of management changes at Europe’s biggest banks as lenders seek leaders with a different set of skills to revive profit.

Barclays Chairman John McFarlane, who joined in April, will take over as executive chairman while the lender finds a successor to Jenkins, 53, the company said in a statement on Wednesday. Jenkins, a former consumer banker, took over from Robert Diamond in 2012 after the bank was fined for manipulating benchmark interest rates.

Barclays is among three of Europe’s largest lenders that replaced their CEOs this month. Below are some of the recent leadership changes:

* Deutsche Bank AG named supervisory board member John Cryan to replace its co-chief executive officers, Anshu Jain and Juergen Fitschen. Cryan, who started July 1, will run the firm with Fitschen, 66, until the latter departs next May. Cryan, 54, is the former finance chief at UBS Group AG.

* Credit Suisse Group AG appointed Tidjane Thiam, the former CEO of Prudential Plc, to replace CEO Brady Dougan, starting last week. Dougan had led the Zurich-based bank since 2007.

* Banco Bilbao Vizcaya Argentaria SA named Carlos Torres, its head of digital banking, as chief operating officer in May to replace Angel Cano in a wider revamp to accelerate the lender’s digital transformation.

* Standard Chartered Plc named former JPMorgan Chase & Co. investment bank co-chief Bill Winters to replace Peter Sands as CEO as it seeks to reverse faltering earnings growth and a slump in shares. Winters, 53, started in June. Chairman John Peace will leave in 2016.

* Royal Bank of Scotland Group Plc named former regulator Howard Davies to replace Philip Hampton, 61, as chairman starting Sept. 1, as the taxpayer-owned lender works to shrink its investment bank after seven straight annual losses. Davies, 64, was a former chairman of the now defunct U.K. Financial Services Authority.

* Credit Agricole SA chose Philippe Brassac, head of the federation of regional banks that controls Credit Agricole, to become CEO on May 20, replacing Jean-Paul Chifflet, who retired.

* Societe Generale SA, France’s second-largest bank, named former European Central Bank board member Lorenzo Bini Smaghi chairman, as it separated the post from that of CEO. Bini Smaghi, 58, took up the post at the end of May, Frederic Oudea relinquished the chairman role and kept the CEO title.

Barclays’s McFarlane Takes Over as CEO Jenkins Leaves

Read this next:

Before it's here, it's on the Bloomberg Terminal. LEARN MORE