LONDON & NEW YORK – Barclays (LON:BARC) has appointed Alexander Altmann as the Managing Director and Global Head of Equities Tactical Strategies, a position he will assume in June and will be based in New York. Altmann will report to Ronnie Wexler, the Global Head of Equities Distribution at Barclays.
In this new role, Altmann is tasked with identifying and capitalizing on new opportunities by providing thematic idea generation. His efforts aim to drive and monetize actionable market content for clients across Equities and the broader Global Markets divisions.
Ronnie Wexler expressed confidence in Altmann's appointment, citing his nearly two decades of experience in the equities field and his proven ability to generate market insights. Altmann's role will involve collaboration with various teams within Global Markets and Research to enhance client relationships and deliver high-quality market content.
Altmann's career includes a tenure as Equity Macro Portfolio Manager at Millennium Capital Management and a decade as Head of Equity Trading Strategy at Citigroup. His experience also spans positions at the Royal Bank of Scotland (LON:NWG) (NYSE:RBS_old_old) and JPMorgan (NYSE:JPM) in London.
Barclays, a diversified bank, aims to be a leader in global finance centered in the UK. It operates across multiple divisions including consumer, corporate, wealth, private banking, and investment banking, with a strong presence in the US consumer banking sector.
The appointment is part of Barclays' strategy to provide a better financial future for its customers, clients, and communities by leveraging expertise and fostering deep client relationships.
This announcement is based on a press release statement from Barclays.
InvestingPro Insights
As Barclays prepares to welcome Alexander Altmann to the helm of Equities Tactical Strategies, the company's financial health remains a focal point for investors. The latest data from InvestingPro paints a detailed picture of Barclays' market standing.
With a robust market capitalization of $41.03 billion, Barclays holds a significant position in the banking sector. Despite a slight revenue decline in the last twelve months as of Q1 2024, with a -3.61% revenue growth, the bank's operating income stands at a healthy $9.03 billion, indicating efficient management and a strong grip on operational costs.
Investors tracking the bank's performance will note the positive momentum in Barclays' share price, with a 1-year total return of 40.65% as of mid-2024. This upward trend is further evidenced by a 6-month price total return of 55.97%, showcasing investor confidence in the bank's strategies and market position. With the next earnings date slated for August 1, 2024, stakeholders will be keenly anticipating further developments and the impact of Altmann's strategic initiatives on the bank's financial outcomes.
For investors seeking deeper insights and additional metrics on Barclays' performance, InvestingPro offers more tips, including an analysis of the bank's P/E ratio, which currently stands at a competitive 8.14. This indicator, coupled with the bank's earnings per share figures – $0.33 for basic EPS and $0.32 for diluted EPS from continuing operations – provides a snapshot of Barclays' profitability and potential value for shareholders.
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