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A New CEO for Barclays: Weekly Bank Recap

Foreign bank institutions dominated the headlines during the short holiday week.



) -- Foreign bank institutions dominated the headlines during the short holiday week.

First up, in the U.K.,

Barclays (BCS) - Get Barclays Plc Report

announced on Tuesday that Bob Diamond, its head of corporate and investment banking will succeed CEO John Varley, who is retiring in March 2011.

Barclays also announced this week that

Jeffrey Peek

, the former head of

CIT Group

(CIT) - Get CIT Group Inc. Report

, would become vice chairman of its investment banking division.

Barclays' U.K. competitor,

HSBC (HSBC) - Get HSBC Holdings Plc Report

, announced on the same day that its chairman Stephen Green would leave the bank at the end of the year to become U.K.'s trade minister.

Over in Ireland, more clarity was given to its troubled banking sector. Irish regulators said this week that it would split

TheStreet Recommends

Anglo Irish Bank

into a good bank/bad bank structure.

Moody's Investors Service upgrade

Bank of Ireland (IRE)

due to the bank's improved capital levels.

Deutsche Bank (DB) - Get Deutsche Bank AG Report

shares were lower on Friday after speculation of a large capital raise was in part due to raising its stake in Deutsche Postbank, but also for the coming tougher regulatory capital requirements.

The Basel Committee on Banking Supervision is to finalize bank capital requirements this coming Sunday. Reports say that banks' Tier-1 capital levels are supposedly going to be roughly 7%.

Goldman Sachs (GS) - Get Goldman Sachs Group, Inc. Report

agreed to pay a near record fine of roughly $27 million to U.K. regulators over failing to disclose that it was being investigated for fraud in the U.S.

Back in the U.S.,

Bank of America (BAC) - Get Bank of America Corp Report

shares, which have rallied so far this month, will hinge on what CEO Brian Moynihan says during his Tuesday presentation at the Barclays Capital Global Financial Services conference.

The former

Lehman Brothers

financial services conference will feature leaders from U.S. large and regional banks and other global financial firms and is sure to be chock full of interesting details for investors to trade on.

(Listen to


staff reporters Maria Woehr and Laurie Kulikowski discuss what to expect from the upcoming Barclays conference during the weekly video series,

Bank Stock Buzz

, every Monday morning at 7 a.m. EDT.)


Financial Select Sector SPDR

(XLF) - Get Financial Select Sector SPDR Fund Report

ended the week flat at $14.53.

--Written by Laurie Kulikowski in New York.

To contact the writer of this article, click here:

Laurie Kulikowski


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Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.