Geoffrey Belsher, a seasoned investment banking executive, will assume his role as Barclays' chairman and country CEO for Canada starting October 16, pending regulatory approval. Based in Toronto, he will be accountable to Richard Haworth, CEO of the Americas, along with Cathal Deasy and Taylor Wright, Global Co-Heads of Investment Banking.
Belsher's appointment is part of Barclays' strategy to fortify its Corporate and Investment Bank (CIB) platform in Canada. With his 25 years of investment banking experience, including significant tenure at Barclays Capital and a role as global Co-Head of Wholesale Banking at CIBC from 2009 to 2015, Belsher is expected to bring deep knowledge of the Canadian market to his new role.
According to InvestingPro data, Barclays has a market cap of 28.54B USD and a P/E ratio of 4.33. The bank has seen a revenue growth of 0.42% LTM2023.Q2, although revenue growth for FY2023.Q2 was down by 9.14%. Barclays has also been profitable over the last twelve months, with a basic EPS of 0.45 USD, which aligns with InvestingPro Tips that analysts predict the company will continue to be profitable this year.
Belsher was also a key figure in launching investment banking branches in Toronto and Calgary from 2006-2008. His leadership at Barclays Capital and Lehman Brothers in Canada has been recognized by Richard Haworth, who acknowledged Belsher's executive acumen.
Barclays has been present in Canada for a quarter-century, offering a broad spectrum of services including investment banking, global markets, and global research coverage. As the premier non-Canadian bank in market share, Barclays aims to safeguard its top five ranking across all sectors under Belsher's guidance.
InvestingPro Tips also highlight that Barclays has raised its dividend for 3 consecutive years and is a prominent player in the Banks industry. This, along with the fact that it trades at a low P/E ratio relative to near-term earnings growth, is indicative of the bank's strength in the market.
The bank also has ambitions to break into the top three in fields like cross-border M&A, equity financing, and high-yield financing. These strategic moves come as part of Barclays' ongoing efforts to strengthen its position in the Canadian market. For more insights like these, check out InvestingPro, which offers additional tips for investors.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.