Skip to content
Search

Latest Stories

Barclays CEO in bid to stem US talent flight

Barclays slipped to 14th place in Refinitiv’s Americas mergers and acquisitions league table

Barclays CEO in bid to stem US talent flight

BARCLAYS chief executive C S Venkatakrishnan held a virtual town hall this week to address management changes that have led to about two dozen US investment bankers fleeing in the last few weeks, people familiar with the matter said.

The bankers have left for rivals including Citigroup, UBS Group and Jefferies Financial Group. Venkatakrishnan's intervention underscores the pressure that the British bank is under to protect its US investment banking franchise.


Barclays slipped to 14th place in Refinitiv's Americas mergers and acquisitions league table in the first quarter of 2023 from sixth a year earlier, even as it jumped from ninth to fifth in the Europe, Middle East and Africa league table, as its US dealmakers struggled to preserve market share amid a slowdown in transactions.

Venkatakrishnan promised during the meeting to invest in the investment banking business to boost morale, the sources said.

While he did not name bankers by name, Venkatakrishnan addressed management changes that led to former Credit Suisse Group investment banking and capital markets co-head Cathal Deasy and former Morgan Stanley global capital markets co-head Taylor Wright taking over in January as Barclays global co-heads of investment banking.

The elevation of these newcomers to the bank bypassed tenured Barclays bankers that had been seen as possible successors, including those popular with their colleagues such as Marco Valla, who subsequently joined UBS, the sources said.

Barclays in January had said it was in talks with Deasy and Wright's predecessors, John Miller and Jean-Francois Astier, about new roles. Miller left Barclays to join Jefferies last month, while Barclays announced a new role for Astier this week, naming him global head of financial sponsors. In February, Astier had been appointed global chair of the investment bank.

Venkatakrishnan said the changes were part of a succession plan and reflected the bank's strategic focus on covering big clients and the smart use of its balance sheet when it comes to financing the deals of private equity firms.

Responding to a question from one of the attendees at the meeting about compensation, Venkatakrishnan said this would reflect each employee's value and performance.

Barclays declined to comment on the meeting.

It was the second such meeting that Venkatakrishnan has held with bankers in recent weeks. The first was a shorter 10-minute call last month where he did not take any questions, according to one of the sources.

Barclays has also been seeking to replenish talent, hiring five managing directors in the US and another five around the world this year. Last year, the bank brought in Jim Rossman as global head of shareholder advisory from Lazard Ltd and this year it hired Christopher Ludwig from Credit Suisse to work on shareholder advisory.

(Reuters)

More For You

Historic UK-Uganda Rugby Tour launched at London fundraiser

Historic UK-Uganda Rugby Tour launched at London fundraiser

Mahesh Liloriya

An inspiring evening of sport, solidarity, and celebration unfolded on Friday (13) as Her Excellency Nimisha J Madhvani, High Commissioner of Uganda to the UK, hosted a dynamic fundraising event for the Tritons Uganda Rugby Tour 2025. The fundraiser drew attention to a groundbreaking moment in UK and Ugandan rugby relations, the first ever UK women’s rugby team set to tour Uganda.

The high-energy evening included guest appearances by celebrated rugby personalities Simon Shaw, a former England lock and British & Irish Lion, and Shaunagh Brown, an inspirational former England Red Roses international.

Keep ReadingShow less
Karisma Kapoor

The couple were married from 2003 to 2016 and have two children

NavaBharath

How much could Karisma Kapoor’s children inherit from Sunjay Kapur’s £980 million fortune?

The sudden death of billionaire businessman Sunjay Kapur at the age of 53 has raised questions over the future of his vast wealth and who stands to inherit it. Best known in the public eye for his marriage to Bollywood actress Karisma Kapoor, Kapur leaves behind a family spread across three marriages — including two children with Kapoor.

Global business, personal fortune

Kapur was the chairman of Sona BLW Precision Forgings Ltd, commonly known as Sona Comstar, a global automotive components firm headquartered in Gurugram, India. He took charge of the company after the death of his father Dr Surinder Kapur in 2015 and steered it to significant success, particularly in the electric vehicle (EV) sector. The company was listed on the Indian stock exchange in 2021 and is now valued at approximately £2.95 billion, according to Bloomberg.

Keep ReadingShow less
Aamir Khan Rejects Love Jihad Narrative, Defends Family

Aamir Khan addresses love jihad allegations and shares rare details about his family

Getty Images

Aamir Khan shuts down love jihad narrative says daughter and sisters married Hindus out of love

In the lead-up to his upcoming film Sitaare Zameen Par, Aamir Khan has addressed a long-standing controversy that has trailed him for years: allegations that his 2014 film PK promoted ‘love jihad’ and disrespected religion. Speaking on Aap Ki Adalat, the actor finally offered his side of the story, calling the accusations “baseless” and “misinformed”.

“When two people fall in love and decide to marry, it’s not a conspiracy. It’s a human connection,” Aamir said, firmly rejecting the label of ‘love jihad’.

Keep ReadingShow less
Kantara 2

5 moments from the Kantara 2 shoot that shocked fans and halted filming

Instagram/hombalefilms

5 reasons ‘Kantara 2’s shoot feels like a real-life thriller with one shocking disaster after another

The shoot of Kantara 2 has been anything but smooth. What was meant to be a spiritual sequel to one of Kannada cinema’s biggest hits has instead been plagued by a series of disturbing incidents, including a drowning, a boat capsizing with Rishab Shetty on board, and even environmental fines. While the production team insists filming is on track, the number of on-set mishaps has left fans concerned and questioning the safety standards behind the camera. Here's a timeline of five serious events that disrupted the shoot.


The timeline of trouble:

The overturned bus (25 November 2024)

A minibus ferrying around 20 junior artists back from set rolled over near Jadkal, Karnataka. Initial reports pointed to injuries. Hombale Films quickly countered, insisting it wasn’t their official transport and no one was seriously hurt. Filming pushed ahead almost immediately. The conflicting accounts left questions hanging about crew safety during transit.

A lunch break tragedy (7–8 May 2025)

The shoot took its darkest turn during a break at the Kollur Souparnika River location. Junior artist M.F. Kapil, just 24, went for a swim off-duty. Strong currents swept him away. Hours later, his body was recovered. Production halted. While the makers stressed this happened off-set and was a "personal accident," the death of a young crew member cast a long shadow over the production. A police probe followed.

Off-set losses (May–June 2025)

Within weeks, two more deaths struck, though not directly tied to set conditions. Comedian Rakesh Pujare succumbed to a cardiac arrest in May. Then, in June, mimicry artist Kalabhavan Niju collapsed on set with chest pain, dying en route to the hospital. While health-related, each incident highlighted the importance of on-call medical support.

Massive set destruction & environmental fines (Early 2025)

Months before the drownings and boat capsize, the team faced a different kind of blow. A massive, expensive set built for the film was utterly destroyed by fierce, unexpected storms and relentless rain. To compound the problem, the crew later drew flak and fines from forest officials, accused of disrupting habitats and illegally dumping waste during their work.

Boat capsize at Mani Reservoir (16 June 2025)

The most recent jolt came with the boat capsizing incident at the Mani Dam reservoir. While filming a scene, the vessel, overloaded with Shetty and crew, overturned, plunging everyone into the water. Shallow depths prevented fatalities, but equipment was lost, production stopped, and safety protocols came under intense scrutiny. Police are investigating overloading as a likely cause.


Looking ahead

Each setback, from overturned vehicles to environmental pushback and sudden fatalities, has tested Kantara 2’s planners and crew. While no further fatalities have occurred since 15 June, production delays and budget increases are almost inevitable. The team now faces the dual task of maintaining its ambitious 2 October 2025 release date while ensuring every member can work without fearing for their safety.

Keep ReadingShow less