Investment Banking

Bernstein: Hey Jes! Sell, sell, sell

Analysts at Sanford C Bernstein have penned an open letter to Barclays chief executive Jes Staley. The message is simple: sell the African business, sell the US card business, and sell off the US investment bank.

Jes Staley
Jes Staley

Analysts at Sanford C Bernstein have penned an open letter to Barclays chief executive Jes Staley. The message is simple: sell the African business, sell the US card business, and sell off the US investment bank.

The note from Bernstein's analyst team, led by Chirantan Barua, notes that Barclays' stock is almost back at levels when former chief executive Bob Diamond "got booted" - in their words - in 2012

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