August 7, 2015 – Barclays Plc has retained Spencer Stuart to lead its search for a new chief executive officer. Executive chairman John McFarlane ousted CEO Antony Jenkins and pledged to tackle a “cumbersome and bureaucratic” bank. Spencer Stuart is in the process of drawing up a long list of potential candidates and hopes to identify a new CEO by the end of the year.
“It would be good to have someone familiar with investment banking as it’s such an important part of the group,” said Mr. McFarlane. “The candidate must also be familiar with regions where Barclays makes the most money, the U.K., Europe, U.S., Canada and Africa.” Barclays is an international financial services provider engaged in personal, corporate and investment banking, credit cards and wealth management with an extensive presence in Europe, the Americas, Africa and Asia.
Over the past three years, Spencer Stuart has completed more than 200 searches for investment banking and capital markets professionals for clients, including from large, global institutions, to regional firms and specialized boutiques.
Since 2009, Spencer Stuart’s CEO practice has conducted nearly 1,500 CEO search and succession assignments globally. Currently, the firm is leading CEO searches for social media company Twitter, retail giant Abercrombie & Fitch and Angie’s List, a U.S.-based paid subscription supported website containing crowd-sourced reviews of local businesses. The firm operates 56 offices in 30 countries.
Contributed by Dale M. Zupsansky, Managing Editor, Hunt Scanlon Media