BCS News & Analysis
3 articles
Market Mood
Barclays Appoints Mike Joo and Adeel Khan as Co-CEOs in 2027
Barclays has appointed Mike Joo and Adeel Khan as joint chief executives of its investment banking division starting February 2027, pending regulatory clearance. Joo will transition from Bank of America, where he was co-head of global investment banking, while Khan is currently overseeing Barclays' global markets business. Both Joo and Khan will serve on the group executive committee, with Khan having been co-head since 2021. This leadership change may impact Barclays' ability to enhance client services and strengthen its investment banking operations.
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Jes Staley to Testify July 23 Amid Epstein Investigation
Jes Staley, former CEO of Barclays (BCS), has agreed to an interview on July 23 with the House Oversight and Government Reform Committee regarding his ties to Jeffrey Epstein. Staley's relationship with Epstein, which has raised questions about his conduct, led to his resignation from Barclays in 2021 following a Financial Conduct Authority investigation. In 2023, JPMorgan (JPM) paid $290 million to settle claims related to Epstein. Staley faces a permanent ban from the UK finance sector, for which he was fined over $2 million. The interview is part of ongoing investigations involving multiple high-profile individuals connected to Epstein.
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Tesla (TSLA) Forecast Shows Negative $3 Billion Cash Flow in 2026
Barclays (BCS) analyst Dan Levy has maintained an 'Equalweight' rating on Tesla (TSLA), highlighting concerns about its high spending plans. Tesla is projected to have a free cash flow of negative $3 billion in 2026, significantly affected by its new chip factory, the Terafab project. The company plans to spend over $20 billion on capital projects this year, with costs for the chip initiative likely exceeding initial estimates. This shift toward AI projects raises questions about Tesla's underlying auto business sustainability as investors focus more on growth narratives than vehicle sales.
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