Top banks analyst leaves Barclays
(Financial Times) High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email firstname.lastname@example.org to buy additional rights.
Barclays’ top-ranking banks analyst is to leave the group, the latest in a line of senior departures. Simon Samuels, who has headed Barclays’ European bank research team for the past five years, after a 12-year career at Citigroup, is expected to move into a range of non-executive and advisory positions within the financial and regulatory sphere.
Mr Samuels, rated the top European banks analyst over the past three years in investor surveys such as Thomson Extel, has been an influential figure in the regulatory debate. He has long been a vocal critic of the shortcomings of the risk-weighted asset system of calculating banks’ capital requirements and more recently sat on the financial reporting task force established by international regulators at the Basel Committee and Financial Stability Board.
Over the past few months, Mr Samuels has backed away from his bank research role, undertaking an informal secondment to advise senior Barclays’ management on the group’s strategic overhaul.
Mr Samuels, who will retire from Barclays in the autumn, will be replaced by his number two, Jeremy Sigee.
In a note to clients over the weekend, Mr Samuels said his time as a banks analyst in recent years had been like “sitting on the grassy knoll as the Kennedy motorcade entered Dealey Plaza. It was a front seat at a piece of history”.
He also confessed that after 20 years as an equities analyst he was still mystified by what drove share prices. “‘Mr Market’ remains as much the elusive beast now as it did then.”