Barclays share price: Bank nabs former Fed official as senior adviser

Barclays (LON:BARC) has appointed Richard Fisher, former president and chief executive officer of the Federal Reserve Bank of Dallas, as a senior adviser. The British bank announced the move in a statement yesterday, noting that Fisher could help provide Barclays and its clients with insights on monetary policy, financial markets and services, global trade negotiations and regulatory matters.

Tom King, chief executive officer of Barclays’ investment bank, said: “Richard’s appointment demonstrates the strength of our franchise and our dedication to providing clients with best in class service and differentiated insights.”
Fisher, who starts in his new post tomorrow, served as president and CEO of the Federal Reserve Bank of Dallas from April 2005 to March 2015. Previously, he held high ranking government posts where he played important roles overseeing the implementation of the North American Free Trade Agreement (NAFTA), the US-Korea Auto Agreement and other trade deals in Vietnam and Singapore. Fisher was also an important negotiator during China’s ascension to the World Trade Organization in the early 2000s. Since leaving the Fed earlier this year, Fisher has also joined the boards of Pepsico and AT&T.
“I am delighted to be joining Barclays, a leader in global finance and a values-driven organization. I very much look forward to working with the team and playing a role in helping clients achieve their business objectives,” Fisher said yesterday.
Barclays’ shares have been trading marginally lower today. As of 12:58 BST, the lender’s stock was 0.13 percent lower at 264.20p. The FTSE 100-listed bank has gained over eight percent in the year to date.
As of 13:54 BST, Tuesday, 30 June, Barclays share price is 263.63p.