Barclays Plc Chief Executive Officer C.S. Venkatakrishnan is in remission after completing three months of cancer treatment.
(Bloomberg) — Barclays Plc Chief Executive Officer C.S. Venkatakrishnan is in remission after completing three months of cancer treatment.
“Over the coming weeks, I plan to be working more from the office, and ultimately resuming travel,” Venkatakrishnan, 57, said in a letter to staff.
Barclays said in November he was planning to continue working while receiving treatment for non-Hodgkin lymphoma.
There is precedent for major bank CEOs to stay in their roles while undergoing cancer treatment. Lloyd Blankfein ran Goldman Sachs Group Inc. while undergoing chemotherapy for lymphoma in 2015, while JPMorgan Chase & Co. boss Jamie Dimon received treatment for throat cancer in 2014. Both men announced the treatments worked about six months later.
Read More: Barclays CEO Says He Has ‘Curable’ Non-Hodgkin Lymphoma
Barclays had previously said Venkatakrishnan’s treatment was expected to last 12 to 16 weeks. Non-Hodgkin lymphoma is a cancer of the lymphatic system that affects more than 80,000 people annually in the US and UK.
Venkatakrishnan’s diagnosis came a little more than a year after he took the helm at Barclays, having joined the bank from JPMorgan in late 2015. He took over from Jes Staley, his one-time mentor, who abruptly stepped down amid an investigation into his ties to the late financier and sex offender Jeffrey Epstein.
In the memo, Venkatakrishnan thanked staffers at Memorial Sloan Kettering Cancer Center, where he received his care.
His treatment kept him from participating directly in the firm’s earnings calls with journalists and analysts last month, though he did pre-record a message for the event. The firm’s results for the final three months of 2022 came as a disappointment to investors, who sent the shares down by the most in almost three years.
(Updates with more information beginning in fifth paragraph.)
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