Barclays boss WILL have UK home but will split his time between the City and New York
CS Venkatakrishnan took the helm at Barclays on Monday after Jes Staley’s shock departure
The new boss of Barclays will have a home in London – but split his time between the City and New York.
CS Venkatakrishnan, who likes to be known as Venkat, took the helm on Monday after Jes Staley’s shock departure following a probe into his connections with paedophile Jeffrey Epstein.
Barclays would not say whether it or the new boss would pay for his home. City figures were concerned he might only spend half his time here.
Lord Mann, ex-chairman of the Treasury sub-committee, said: ‘It would be highly questionable not to move considering the problems Barclays has had with chief executives over the past 15 years.
A City bank boss added: ‘Most of Barclays’ operational centres are here, as are senior management. Zoom can get you so far, but it doesn’t seem sustainable.’
Barclays refused to comment on whether it or Staley would be paying his legal costs, as he battles findings about how he characterised his relationship with Epstein.