Compared to a year ago, Barclays’ total income rose by 14%. Still, the bank insisted that macroeconomic developments such as the expected ending of the Bank of England’s fiscal tightening policy convinced it to reduce its net interest margin outlook from 3.2% to 3.15%.

Barclays’ trading revenue plunged by 41% to £1.75 billion ($2.3 billion) compared to a year ago, falling short of expectations. The bank’s fixed-income trading division declined by 22% to £1.2 billion while equities trading revenue plummeted by 60% to £563 million.

The UK lender announced plans to buy back a further £750 million of stock, beating expectations as it follows up from its £500 million buyback program that occurred in April.

The post Barclays Shares Decline as Bank Signals End of Rates Boom appeared first on theprimarymarket.com.

Before taking the position at Barclays, Birchenough last acted as the vice chairman of biopharma investment banking at Wells Fargo. This is not his first tenure with Barclays, however, having previously worked at the British investment bank as a research analyst with a focus on biotech companies.

During his earlier career, Birchenough also worked in similar roles in the biotech space at BMO Capital Markets and Lehman Brothers.

His new list of responsibilities at Barclays includes leading the bank’s global biopharma investment banking unit alongside Alexis de Rosnay, who joined Barclays last year.

“Jim has a real track record and it’s well known within the industry, both from his tenure as a banker and his tenure as a research analyst,” Richard Landgarten, global head of healthcare and real estate investment banking at Barclays said of Birchenough.

The post Barclays Announces Appointment of Wells Fargo & Co Executive appeared first on theprimarymarket.com.

While trading droughts and a poorly performing finance portfolio contributed to declining revenues, the British multinational bank was faced with an array of legal issues, including conduct and litigation charges. In addition to overselling U.S. investment products, Barclays also looked to reach a settlement due to its staffers’ usage of unapproved messaging channels.

The bank recently announced its plan to buy back up to £500 million of shares during the first fiscal quarter of 2023. Even as it looks to do so, Barclays faced scrutiny as other European banks boost their payouts.

Other factors that strained Barclays’ profits include a 6% rise in total costs to £4 billion during the first three months of the year. Barclays remains insistent, however, that it will continue spending more on its corporate and investment banking unit as well as its consumer cards and payments division, which includes JetBlue Airways Corp. and Gap Inc. as partners.

The post Barclays Posts Unexpected Profit Decline Following Year of Legal Challenges appeared first on theprimarymarket.com.

According to the outlet, Barclays didn’t commit a significant amount of money, with its investment being reported at “several million.” Copper is seeking an evaluation of around $2 billion, down from the previous target of $3 billion.

Copper was founded in 2018. Its business encompasses a number of cryptocurrency aspects, but the primary goal of the company is to offer prime broking, settlement services, and custody to institutional investors who are putting their money into coins and other crypto assets.

When approached for a comment by Bloomberg, Sophie Arnold, head of communications for Copper, neither denied nor confirmed Barclays’ investment.

“As the funding round is ongoing, we’re unable to comment on this report,” said Arnold.

The shift from risky assets like cryptocurrency in recent months didn’t stop Copper from attracting a number of high-profile investors during this funding round. Still, the recent crypto market crisis and difficulties in meeting the conditions set by UK’s Financial Conduct Authority have caused the interest in the company to cool off. Copper previously managed to raise $50 in Series B funding a year ago.

The post Barclays Invests in Crypto Advisor Copper appeared first on theprimarymarket.com.

Compared to a year ago, Barclays’ total income rose by 14%. Still, the bank insisted that macroeconomic developments such as the expected ending of the Bank of England’s fiscal tightening policy convinced it to reduce its net interest margin outlook from 3.2% to 3.15%.

Barclays’ trading revenue plunged by 41% to £1.75 billion ($2.3 billion) compared to a year ago, falling short of expectations. The bank’s fixed-income trading division declined by 22% to £1.2 billion while equities trading revenue plummeted by 60% to £563 million.

The UK lender announced plans to buy back a further £750 million of stock, beating expectations as it follows up from its £500 million buyback program that occurred in April.

The post Barclays Shares Decline as Bank Signals End of Rates Boom appeared first on theprimarymarket.com.

Before taking the position at Barclays, Birchenough last acted as the vice chairman of biopharma investment banking at Wells Fargo. This is not his first tenure with Barclays, however, having previously worked at the British investment bank as a research analyst with a focus on biotech companies.

During his earlier career, Birchenough also worked in similar roles in the biotech space at BMO Capital Markets and Lehman Brothers.

His new list of responsibilities at Barclays includes leading the bank’s global biopharma investment banking unit alongside Alexis de Rosnay, who joined Barclays last year.

“Jim has a real track record and it’s well known within the industry, both from his tenure as a banker and his tenure as a research analyst,” Richard Landgarten, global head of healthcare and real estate investment banking at Barclays said of Birchenough.

The post Barclays Announces Appointment of Wells Fargo & Co Executive appeared first on theprimarymarket.com.

While trading droughts and a poorly performing finance portfolio contributed to declining revenues, the British multinational bank was faced with an array of legal issues, including conduct and litigation charges. In addition to overselling U.S. investment products, Barclays also looked to reach a settlement due to its staffers’ usage of unapproved messaging channels.

The bank recently announced its plan to buy back up to £500 million of shares during the first fiscal quarter of 2023. Even as it looks to do so, Barclays faced scrutiny as other European banks boost their payouts.

Other factors that strained Barclays’ profits include a 6% rise in total costs to £4 billion during the first three months of the year. Barclays remains insistent, however, that it will continue spending more on its corporate and investment banking unit as well as its consumer cards and payments division, which includes JetBlue Airways Corp. and Gap Inc. as partners.

The post Barclays Posts Unexpected Profit Decline Following Year of Legal Challenges appeared first on theprimarymarket.com.

According to the outlet, Barclays didn’t commit a significant amount of money, with its investment being reported at “several million.” Copper is seeking an evaluation of around $2 billion, down from the previous target of $3 billion.

Copper was founded in 2018. Its business encompasses a number of cryptocurrency aspects, but the primary goal of the company is to offer prime broking, settlement services, and custody to institutional investors who are putting their money into coins and other crypto assets.

When approached for a comment by Bloomberg, Sophie Arnold, head of communications for Copper, neither denied nor confirmed Barclays’ investment.

“As the funding round is ongoing, we’re unable to comment on this report,” said Arnold.

The shift from risky assets like cryptocurrency in recent months didn’t stop Copper from attracting a number of high-profile investors during this funding round. Still, the recent crypto market crisis and difficulties in meeting the conditions set by UK’s Financial Conduct Authority have caused the interest in the company to cool off. Copper previously managed to raise $50 in Series B funding a year ago.

The post Barclays Invests in Crypto Advisor Copper appeared first on theprimarymarket.com.