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Barclays CEO Staley says annual revenues have barely moved



Barclays Plc executive director Jes Staley said revenues at the British bank were "more or less stable" in 2017 and he expects better negotiating prospects this year, in a broad interview at the World Economic Forum in Davos .

Staley also said he expects the revenue at Barclays investment bank to increase in 2018 as US interest rates rise. UU and the economy of the European Union is strengthened.

"We will see renewed volatility in the financial markets and I would anticipate that happening in 2018, and that will be very positive for our commercial business," Staley told Francine Lacqua and Erik Schatzker of Bloomberg Television.

Staley's plan to maintain a "bulky" investment bank has been criticized by analysts after trading income Stocks, bonds and currencies fell by 31 percent in the third quarter, the worst performance of the markets in its two-year term. The CEO has repeatedly said that the investment bank should take more risks and authorize the hiring of numerous and well-paid hedge fund operators to manage different offices.

Barclays shares have fallen 9.7 percent in London operations in the last 12 months, making it one of the worst -benefits of European banks in the period. The Index of Banking and Financial Services Banks of Bloomberg Europe has risen 10 percent in that period.

& # 39; Front Foot & # 39;

The London-based lender is not the only institution still struggling to find its place in an industry marked by regulations. After President Donald Trump signed a revision of the US tax code. UU At the end of last year, several European banks with operations in the US UU They warned investors that they will be affected. Deutsche Bank AG said it will record a third consecutive annual loss after receiving an impact of 1,500 million euros ($ 1,900 million) to account for the tax change, while Barclays has said it will assume a charge of approximately one billion pounds ($ 1,400). millions).

Staley said Trump's push to roll back the restrictions imposed on the banking industry after the 2008 global financial meltdown can also affect the sector.

"After the financial crisis, there was a consensus in the major economies that we need to re-regulate the financial markets, but to do so in order to maintain parity in all markets so that no institution can arbitrate one regulator against the other ", He said. "But now
it seems that the US is willing to be at the forefront to make the US market competitive, that's a new substantial phenomenon."


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