Indian-American C.S. Venkatakrishnan is to replace Jes Staley as Chief Executive Officer of British Bank Barclays with immediate effect after Staley’s sudden resignation from the position. Staley had to step down from the position due to UK regulatory probe on his ties to the convicted sex offender Jeffrey Epstein.
Venkatakrishnan, popularly known as “Venkat” was previously the multinational company’s head of Global Markets. He was also the co-president of Barclays Bank PLC, and a member of the New York based Group Executive Committee of Barclays. He is the first person of color to be given the top position in the multinational banking company. During his tenure in the position, he had led several initiatives to promote women and a more culturally-diverse workplace.