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After the Old Boss Goes, Barclays Traders Have a New Champion

CEO Venkatakrishnan is sticking with Jes Staley’s support for the Barclays investment bank. It’s an expensive division that will have to keep performing. 

Jes Staley departed Barclays Plc under a cloud because of an ongoing probe into his relationship with deceased sex offender Jeffrey Epstein. But his strategy for the British lender — to champion its investment bank — is set to outlast him.

As his replacement as chief executive officer, C.S. Venkatakrishnan, prepares his maiden quarterly earnings presentation this week, Staley’s blueprint will almost certainly remain untouched. “Venkat is basically Staley’s man without the baggage and is seen to be a safe pair of hands,” says Alan Beaney, CEO of RC Brown Investment Management, which has held Barclays shares since 2012.