{"id":1649265,"date":"2022-09-20T13:51:05","date_gmt":"2022-09-20T17:51:05","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1649265"},"modified":"2022-09-20T13:51:38","modified_gmt":"2022-09-20T17:51:38","slug":"investment-banks-revenue-shake-up-looms-in-2023-barclays-boss-says","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/investment-banks-revenue-shake-up-looms-in-2023-barclays-boss-says\/","title":{"rendered":"Investment banks revenue shake-up looms in 2023, Barclays boss says"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Finvestment-banks-revenue-shake-up-looms-in-2023-barclays-boss-says%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1649265&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Sinead Cruise and Iain Withers<\/p>\n<p>LONDON (Reuters) -Investment banks are likely to see a shake-up in revenues next year, with a rebound in banking and advisory fees expected to soften a hit from a fall in trading income, Barclays\u2019 CEO C.S. Venkatakrishnan told an investor event on Tuesday.<\/p>\n<p>A trading surge has helped investment banks report robust results this year and helped to offset a dire year for fees on company flotations and M&#038;A deals amid global market turbulence.<\/p>\n<p>That could be set to change by the second half of next year, Barclays\u2019 CEO said.   <\/p>\n<p>\u201cTrading revenue pools will probably shrink a bit and investment banking revenue pools will probably rise. Whether they offset each other I don\u2019t know,\u201d Venkatakrishnan \u2013 known internally at Barclays as Venkat \u2013 said at a Bank of America event.<\/p>\n<p>\u201cBut I anticipate volatility in the markets continuing at least in the first and second quarter of next year. And so the declining trading revenue pools seasonally adjusted is more likely to happen in the second half of next year.\u201d<\/p>\n<p>Venkat said a flurry of interest rate rises in Britain \u2013  Barclays\u2019 home market \u2013 with another rise expected from the Bank of England this week, would eventually cool the economy.<\/p>\n<p>But he said he still expected rate rises to be \u201ca net positive\u201d for Barclays as it boosts income from lending. He said he expected all the bank\u2019s three main business units to exceed 10% return on tangible equity \u2013 a key measure of profitability for banks \u2013 next year.<\/p>\n<p>The British government\u2019s plan to cap energy prices to aid people facing squeezed household budgets would help the economy, but Barclays is more cautious on the country\u2019s outlook than it is on the United States, Venkat said.   <\/p>\n<p>\u201cI think the U.S. economy is showing less signs of weakness,\u201d he added. <\/p>\n<p>Venkat also provided an update on an error that resulted in the bank overselling a range of complex financial instruments in breach of U.S. rules.<\/p>\n<p>The bank will give more details on the final costs of its so-called rescission offer to buy back the securities in \u201crelatively short order\u201d, Venkat said.<\/p>\n<p>Barclays said last week that investors had submitted claims for $7 billion out of $17.7 billion worth of securities it sold in error, under the terms of the rescission offer by which the bank had to buy back the notes and compensate buyers.    <\/p>\n<p> (Reporting by Sinead Cruise and Iain Withers, Editing by Jane Merriman)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/investment-banks-trading-revenue\/the-logo-of-barclays-bank-is-seen-on-glass-lamps-2\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/tagreuters.com2022binary_LYNXMPEI8J0WC-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI8J0WC-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Sinead Cruise and Iain Withers LONDON (Reuters) -Investment banks are likely to see a shake-up in revenues next year, with a rebound in banking and advisory fees expected to<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1649265","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1649265","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1649265"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1649265\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1649265"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1649265"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1649265"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}