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Barclays has appointed former UBS banker Marc Warm as its global co-head of capital markets, expanding its leadership team to three co-heads, including Tom Johnson and Travis Barnes. Based in New York, Warm brings expertise in credit as Barclays aims to enhance its presence in debt capital markets and leveraged finance. This move is part of a broader strategy by CEO C.S. Venkatakrishnan to revamp the investment bank's leadership while focusing on core domestic banking operations.
Barclays has appointed Marc Warm, a former UBS banker, as global co-head of its capital markets business, aiming to enhance its competitive edge against Wall Street firms. Based in New York, Warm joins Tom Johnson and Travis Barnes in a unique three-person co-head structure, focusing on expanding in corporate bond capital markets and leveraged finance. Despite gaining market share in areas like equity underwriting, Barclays still trails behind US rivals such as JPMorgan and Goldman Sachs.
Barclays has appointed Marc Warm, a former UBS banker, as Global Co-Head of Capital Markets, aiming to enhance its competitive stance against Wall Street firms. Based in New York, Warm joins Tom Johnson and Travis Barnes in a unique three-person co-management structure, focusing on expanding into debt capital markets and leveraged finance. Despite gaining market share in equity capital raising, Barclays still trails behind US competitors like JPMorgan and Goldman Sachs.
Barclays has announced it will not close any more bank branches in 2025 or 2026, as confirmed by CEO CS Venkatakrishnan. However, the bank has not ruled out future closures beyond 2026, with Chairman Nigel Higgins stating they will assess the current branch strategy. Over the past decade, Barclays has shut 1,236 branches, including 14 in 2025, while offering alternative services like mobile branches and pop-up banking sites.
CS Venkatakrishnan, the CEO of Barclays, has emphasized the urgent need for Britain to revive a culture of share ownership, citing a significant decline in retail investment. Speaking at the bank's annual general meeting, he urged the Government and regulators to take action, echoing calls from other City leaders to eliminate stamp duty on shares to enhance investment in UK-listed stocks.
Barclays has announced it will not close any more bank branches in 2025 or 2026 after shutting 1,236 locations over the past decade. While this commitment follows similar pledges from HSBC and Nationwide, the bank has not ruled out future closures beyond 2026, as customer preferences shift towards online banking. To address accessibility concerns, banking hubs and super ATMs are being introduced to provide essential services in areas affected by branch closures.
Student activists glued the doors of Barclays in Cambridge shut to protest the bank's investments in fossil fuels and its recent decision to ban trans women from female toilets. The group, This Is Not a Drill, criticized Barclays for its financial ties to Israel and its role in funding weapon production. This action is part of a broader national protest against the bank, coinciding with its AGM, as student activism against Barclays continues to grow.
Barclays' CEO, CS Venkatakrishnan, has assured shareholders that no further branch closures will be announced for 2025 or 2026, despite the bank's significant reduction in its branch network. This pledge comes amid criticism over the impact of digital banking on vulnerable customers, as Barclays has closed more branches than any other UK lender. The bank's chairman emphasized the need to evaluate the current branch strategy before making long-term plans.
Barclays faced protests at its annual meeting in London, with activists accusing the bank of financially supporting Israeli defense firms. Demonstrators interrupted the meeting, demanding accountability for the bank's alleged role in arming Israel amid ongoing conflict. Despite criticism, Barclays maintains it does not invest its own funds in companies supplying weapons used in Gaza and plans to return at least £10 billion to shareholders by 2026.
Britain's banks are debating the future of regulatory ringfencing established post-financial crisis, with proponents like Barclays advocating for consumer protection, while critics, led by HSBC, argue it restricts capital flow essential for economic growth. Despite calls for reform, recent reviews indicate the rules are functioning as intended, highlighting the risks posed by American competitors like Goldman Sachs and JPMorgan if the barriers are removed. The push for change appears opportunistic, aiming to capitalize on a broader deregulatory trend.
C. S. Venkatakrishnan
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