Barclays gave an ex-Citi MD a big promotion ahead of its strategic update
We don't usually write about promotions, but as Barclays prepares to unveil a new strategy that seemingly won't involve harsh cuts to its investment bank even though revenues there have been lacklustre and returns have never quite come through, it's worth noting that it's got a new chief of staff.
Sources at the bank say that Anita Tanna, the former head of equity sales and high touch program and trading execution services, was yesterday promoted to chief of staff, reporting directly to Barclays' CEO C. S. Venkatakrishnan. Tanna 'only' joined Barclays in 2021, after a nearly 12 year career at Citi, which is busy doing away with layers of management.
Barclays isn't commenting on the promotion, which was announced via an internal memo yesterday. Despite having a long career in equity sales, Tanna will be Venkat's chief of staff for the entire Barclays group.
The role of a chief of staff is to help smooth the human issues that arise from implementing a CEO's intended strategic changes. As Barclays attempts to increase its returns, Tanna will presumably be tasked with reducing tensions. The fact that she comes from the investment bank might imply that this is where the tensions are likely to be most acute.
Tanna is based in London.
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