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8 reasons why Europe is shaking up banking

London - Barclays’s ouster of CEO Antony Jenkins adds to an unprecedented wave of management changes at Europe’s biggest banks as lenders seek leaders with a different set of skills to revive profit.

FULL REPORT: Barclays fires group CEO Anthony Jenkins

Barclays is among three of Europe’s largest lenders that replaced their CEOs this month. Below are some of the recent leadership changes:

1. Barclays fired CEO Antony Jenkins and John McFarlane became executive chairperson, pending the appointment of a new chief executive.

2. Deutsche Bank named supervisory board member John Cryan to replace its co-chief executive officers, Anshu Jain and Juergen Fitschen. Cryan, who started July 1, will run the firm with Fitschen, 66, until the latter departs next May. Cryan, 54, is the former finance chief at UBS Group.

3. Credit Suisse appointed Tidjane Thiam, the former CEO of Prudential, to replace CEO Brady Dougan, starting last week. Dougan had led the Zurich-based bank since 2007.

4. Banco Bilbao Vizcaya Argentaria named Carlos Torres, its head of digital banking, as chief operating officer in May to replace Angel Cano in a wider revamp to accelerate the lender’s digital transformation.

5. Standard Chartered named former JPMorgan Chase investment bank co-chief Bill Winters to replace Peter Sands as CEO as it seeks to reverse faltering earnings growth and a slump in shares. Winters, 53, started in June. Chairperson John Peace will leave in 2016.

6. Royal Bank of Scotland named former regulator Howard Davies to replace Philip Hampton, 61, as chairperson starting September 1, as the taxpayer-owned lender works to shrink its investment bank after seven straight annual losses. Davies, 64, was a former chairperson of the now defunct UK Financial Services Authority.

7. Credit Agricole chose Philippe Brassac, head of the federation of regional banks that controls Credit Agricole, to become CEO on May 20, replacing Jean-Paul Chifflet, who retired.

8. Societe Generale, France’s second-largest bank, named former European Central Bank board member Lorenzo Bini Smaghi chairperson, as it separated the post from that of CEO. Bini Smaghi, 58, took up the post at the end of May, Frederic Oudea relinquished the chairperson role and kept the CEO title.

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