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Adam Hoffman, a former student campaigner against wokeness, graduated from Princeton in 2023 and joined Citadel in 2024 before linking up with Elon Musk’s DOGE in 2025. Meanwhile, Barclays CFO Anna Cross is closely monitoring client returns, and investment banking vacancies are seeing a decline in remote work offers. In Paris, the financial sector faces layoffs as the market shifts, with Deutsche Bank planning to cut 2,000 retail banking jobs amid regulatory challenges.
Barclays CFO Anna Cross announced the bank's strategy to eliminate unprofitable client relationships and potentially reduce capital in its investment banking unit, reallocating resources to more lucrative sectors. As part of a three-year plan to cut £2 billion from costs, the bank aims to decrease risk-weighted assets in investment banking to 50% by 2026. Cross highlighted improved performance in certain financial products and the bank's rise in market share, indicating a positive trajectory in its domestic lending and savings business.
Barclays CFO Anna Cross announced the bank's strategy to eliminate unprofitable client relationships and potentially reduce capital in its investment banking unit to focus on higher-revenue areas. The bank aims to cut risk-weighted assets in investment banking to 50% by 2026, down from 63% in 2023, while improving performance in key product areas.
Barclays CFO Anna Cross announced the bank's strategy to eliminate unprofitable customer relationships while focusing on higher-revenue businesses. At the Morgan Stanley European Financials Conference, she highlighted the rise in corporate deposits and the tough decisions being made regarding client renewals based on expected returns. Conversations with clients about their profitability are ongoing as the bank reassesses its commitments.
Barclays CFO Anna Cross announced the bank's strategy to eliminate unprofitable customer relationships while focusing on higher-revenue businesses. At the Morgan Stanley European Financials Conference, she highlighted the rise in corporate deposits and the tough decisions being made regarding client renewals based on expected returns. Conversations with clients are ongoing to assess their profitability and future potential.
Barclays CEO CS Venkatakrishnan could see his maximum pay rise by 45% to £14.3 million under a proposed pay overhaul, which would cut his fixed salary from £2.95 million to £1.59 million while allowing for substantial bonuses tied to performance metrics. The bank is consulting with major shareholders on this plan, which aims to align compensation with sustainable performance, following the recent removal of the EU's bonus cap. Formal proposals are expected in the annual report on February 13.
Barclays plans to revise the pay packages for its CEO CS Venkatakrishnan and CFO Anna Cross, according to Sky News. Venkatakrishnan's maximum earnings could rise to £14.3 million, while his fixed pay would decrease to £1.59 million. Cross's maximum pay package would increase to £8.1 million. The remuneration committee's decisions will be detailed in the annual report on February 13.
Barclays PLC is proposing a new pay package for CEO CS Venkatakrishnan that could increase his remuneration by 45%, linking it more closely to bonuses and performance. His fixed salary will be halved to £1.59 million, with total annual pay capped at £14.3 million, pending shareholder approval. The changes aim to simplify executive pay structures and align them with business performance, following the removal of the previous cap on bank bonuses.
Barclays CEO CS Venkatakrishnan could see his maximum pay package increase by 45% to over £14m, as the bank considers a pay structure overhaul. This would involve reducing his fixed salary from £2.95m to £1.59m while allowing for significantly higher bonuses, contingent on improved profitability. The remuneration committee is set to outline proposals in the annual report on February 13, with any changes subject to shareholder approval.
Barclays is proposing a significant overhaul of CEO CS Venkatakrishnan's pay, reducing his fixed salary from £2.95mn to £1.59mn while allowing potential earnings of up to £14mn based on profitability targets. If Barclays achieves a 12% return on tangible equity by 2026, he could earn around £9mn. This change follows the bank's decision to eliminate the EU-imposed banker bonus cap, enabling bonuses for senior employees to reach up to ten times their fixed pay.
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