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Barclays CEO Venkat to undergo cancer treatment

By Jonathan Easton

Barclays CEO C.S. Venkatakrishnan – better known as Venkat – is set to undergo treatment for non-Hodgkin lymphoma, the bank has said.

In a regulatory filing, Barclays said that Venkat’s prognosis is ‘excellent’ and that he will continue to work when possible while undergoing treatment in New York over the course of 12-16 weeks. As such, the bank will not appoint an interim CEO and the existing executive committee will continue to run the company.

It is expected that Venkat may have to cut back on public engagements, such as a scheduled appearance at the World Economic Forum meetings in Davos in January.

In Barclay’s filing, the CEO said: "During this period, the company will run normally, and I will continue to be actively engaged in managing it.”

The CEO took over the role from Jes Staley in November 2021. While guiding it to strong investment banking results, Venkat also oversaw a blunder where Barclay’s sold more securities in the US than it was permitted to. This led to regulatory penalties and significant losses, with the CEO promising that the “preventable” error would not be repeated.

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