City File: Barclays not the only bank searching for a chief executive

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The Independent Online
BARCLAYS is not the only bank searching for a chief executive. Jonathan Agnew leaves Kleinwort Benson on Friday and the merchant bank is still a long way from finding a replacement for him.

Ironically, with all this uncertainty at the top, Kleinwort is doing quite well, having made a fortune out of Argentinian privatisations and a none-too- widely publicised relationship with George Soros. It has also cleaned up its loan book and pre-tax profits should be close to the top of analysts' forecasts at pounds 39m.

At 438p, however, the shares have outperformed the market and look pricey.