At this moment, Tim Throsby, the new CEO of Barclays' investment bank, is probably sunning himself on a beach somewhere. Throsby quit J.P. Morgan last week and won't officially turn up at Barclays until January 2017. That gives him plenty of time to loll about and get to grips with what might be required of him in his new job.
If Throsby's looking for an easy entry-point, he could have a little look at the presentation Staley made yesterday at Barclays' own global financial services conference. Slide six, titled 'Evidence of Barclays’ success in repositioning the Corporate & Investment Bank,' and shown in chunks below, says it all.
One word was omitted from slide six as Staley extolled the virtues of Barclays' restructured business: equities. What about Barclays' equities business?
Barclays' equities business is, basically, under-performing - especially in EMEA. Staley admitted as much in the speech accompanying his presentation. It is this that Throsby, an equities professional with a history of building a successful cash equities electronic trading operation at J.P. Morgan, will need to get to grips with. Sometime next year, Barclays' European equities business could find itself in the midst of a very large shake-up indeed.