Sir David Walker is planning a clean sweep of Barclays’ board after he formally becomes chairman of the bank next week and is expected to oversee the replacement of some key executive positions.
The Financial Times reports that 'the City grandee has spent recent weeks sounding out a selection of top figures over their suitability to join the bank in a variety of roles, according to people close to the process'.
In the meantime, Bloomberg reports that BlackRock, the world’s largest exchange-traded fund provider, has an 'edge' over State Street in buying Credit Suisse’s ETF business, according to Citigroup Inc. analysts.
An acquisition would allow BlackRock to bolster the presence of its iShares ETF unit in Europe, Citigroup analysts led by William Katz wrote in a note to clients.
Finally, the news organisation also reports that the Royal Bank of Scotland won a bid to seal documents in a lawsuit filed by a former trader fired over allegations he rigged the London interbank offered rate, according to a person familiar with the decision.
In a closed hearing Wedneday, Singapore High Court Justice Lee Seiu Kin accepted RBS’s request to seal filings made after September 6th in the lawsuit, according to the person, who asked not to be identified because the decision hasn’t been made public. Minutes of the hearing weren’t accessible at the court house Thursday.
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