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Barclays bank is beginning its search for a new Chief Executive to replace Jes Staley.

Barclays bank is beginning its search for a new Chief Executive to replace Jes Staley, according to Markets Insider.

The plan for Staley to step down in 2021 has been in place for some time, but now it seems like the bank is trying to expedite the process. This increase is probably attributed to the FCA probe announcement regarding Staley's relationship with Jeffrey Epstein.

Barclay's revenue relies heavily on its investment bank's operations, around half of its total revenues. One of the main attributes that the new chief executive must have is an investment banking background to ensure that that division of the bank remains strong.

However, compensation in the UK is far less than in the US so the bank might have trouble convincing an experienced investment banker to make the move.

Barclays bank is beginning its search for a new Chief Executive to replace Jes Staley.

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Economics, Finance and Investing

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