Barclays CEO Says Banker Exodus Followed a Business Refocus (1)

Barclays Plc Chief Executive Officer C.S. Venkatakrishnan said his firm’s moves to shuffle top leaders inside its investment bank and focus on new areas of growth have contributed to higher-than-usual attrition among dealmakers in recent months.

Still, turnover in the division remains only slightly higher than usual, Venkatakrishnan said in a Bloomberg Television interview Monday. It comes after Barclays named two new global co-heads of investment banking and the firm decided to expand in Europe and build out businesses dedicated to sustainable companies as well as large private equity firms, he said.

WATCH: CEO C.S. Venkatakrishnan says Barclays is losing some investment bankers, but the turnover rate is only slightly higher than usual.

Source: Bloomberg

“When you do that kind of organizational ...