BARC Barclays Plc

By WSJ City 

Barclays reported weak first-quarter earnings in its investment bank, days before shareholders are due to vote on a board appointment for an activist investor who wants to shrink the unit.

KEY FACTS

   -- Net profit in Barclays's corporate and investment bank fell 30% from a 
      year ago to GBP582m. 
 
   -- The reasons: reduced client activity, lower volatility and fewer 
      corporate deals. 
 
   -- Overall net profit was GBP1.04bn, up from a GBP764m net loss last year 
      which stemmed from regulatory settlements. 

Why This Matters

The results ramp up pressure on Chief Executive Jes Staley to prove the bank's strategic mix of consumer, business and investment banking can work. Sherborne Investors is asking shareholders to vote its founder, Edward Bramson, onto the board at an annual meeting May 2 to trigger a change in strategy.

This story first appeared on Dow Jones Newswires.

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(END) Dow Jones Newswires

April 25, 2019 07:04 ET (11:04 GMT)

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