Barclays Close to Naming BlueMountain's Staley as CEO

Oct 12 2015 | 6:07pm ET

Barclays is reportedly close to hiring BlueMountain executive Jes Staley as its next CEO, according to a Wall Street Journal article citing an unnamed source familiar with the matter. 

The announcement naming Staley to the position could come within the next few weeks, depending on regulatory approvals. 

Staley spent more than 30 years at J.P. Morgan, culminating with roles as head of the firm’s investment banking and asset-management divisions. He joined $12 billion hedge fund BlueMountain Capital, co-founded by former J.P. Morgan credit derivatives specialist Andrew Feldstein, in January 2013 after being passed over for promotion.

The U.K.-based bank has been searching for a new CEO since June, when it sacked Antony Jenkins. Bringing an experienced investment banking hand such as Staley aboard as CEO would be a tacit acknowledgement from Barclays that it needs to focus on its underperforming securities and investment banking units. 

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