FT: Barclays is searching for a new CEO to replace Jes Staley by 2021

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Barclays will begin its formal search for a new CEO to succeed Jes Staley, The Financial Times reported.

Plans for Staley to leave the bank by 2021 were already in the works, but there is a new sense of importance and speed in the search after an FCA probe announced this month it would look into Staley's relationship with disgraced financier Jeffrey Epstein, The Financial Times reported.

The successor will need a backgrund in investment banking, which constitutes about half of the bank's revenue, according to The Financial Times.

British bank Barclays is on the hunt for a new CEO.

The bank is about to call in headhunters in order to start its formal search for a new leader to replace current CEO Jes Staley, The Financial Times reported Monday, citing two people briefed on the plans. See the rest of the story at Business InsiderNOW WATCH: A big-money investor in juggernauts like Facebook and Netflix breaks down the '3rd wave' firms that are leading the next round of tech disruptionSee Also:Here are the exact reasons why diverse companies are more profitable, according to a neuroscience and leadership expert24 products people waste too much money on that you should stop buying immediately16 houses built in seemingly impossible locations

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