Barclays names CEO

LONDON: Barclays says it has named James E Staley, a banker with 30 years of experience at JP Morgan, as its new CEO. The announcement on Wednesday had been widely telegraphed and comes three months after former CEO Antony Jenkins was pushed aside amid concerns about performance of Barclays’ investment bank. Staley began his career as a commercial banker and advanced to head JP Morgan’s global investment bank. Barclays Chairman John McFarlane says Staley ‘understands corporate and investment banking well, the repositioning of which is one of our major priorities’.