he was seen as a successor to the ceo jamie dimon but he left for hedge fund blue mountain capital run by former jp morgan executives. he remained active in banking joining the board of usb earlier this year. >> now this is the second time that barclays has approached jes staley according to the financial times. the first was back in 2012 when he was part of the short list but barclays decided his contract was too expensive so the british bank went for a change in direction. they opted for a retail banker, anthony jenkins and this choice was an intentional switch from previous investment banker boss bob diamond and after three years at the helm for mr. jenkins he was ousted in july of this year after alleged disapproval of his leadership among those at the top. earlier this year kelly evans spoke to jes staley where he made it clear he is in favor of large banking models. >> if they're so great, why don't you go work at one? >> well, the other phenomenon is that the buy side is doing quite well versus the sell side. >> yes. >> so share of the financial market has clearly shifted to the

he was seen as a possible successor to jamie dimon but he moved to hedge fund blue mountain capital inich was founded by former jp morgan colleagues. joining us on the phone is mark garnier. he's a member of the treasury committee. good morning to you. thank you for joining us. this appointed like barclays are moving back to investment banking focus. what do you make of labels like that? do you think that is the case and is it a welcome one in your eyes? >> it will be difficult for barclays. clearly we still have very much an atmosphere in the u.k. that the banks are responsible for bringing down the financial system. he came out labeling investment banks as casino banks. they are a brand which is still very damaged at the moment. anthony jenkins was very much seen in parliament and in the community of being somebody that's going to reverse that damage and i think that what will be perceived by this appointment is a move back to the old style. the bob dimon type of style and he'll have a challenge trying to convince people that he will be focussing on getting the brand right but also s

these puerto rican activists have arrived on the doorstep of a manhattan-based hedge fund, blue mountain capital. hedge funds often invest in debt-ridden economies, buying up bonds at low prices, and looking to flip them for quick profits. and puerto rico is their latest target. the strategy has earned them a reputation among critics as so-called "vulture funds." >> a group of hedge funds that own puerto rican debt hired claudio loser to find ways for puerto rico to solve its debt crisis. among the former imf economist's recommendations - even more cuts to education. >> but it shows the expenditure and school enrollment, how it has declined, school enrollment and how education expenditure has increased enormously. we have been very careful to say that we believe that this is a decision that has to be taken by the authorities of the island. education is too important to be played with and be cut in a irrational or discretional fashion. >> but your co-author briefed reporters that puerto rico is massively overspending on education. >> i mean, that was the message, that came out from the report. >>

morgan chase, he headed up the investment bank until a couple of years ago, then moved over to blue mountain capitalt one point seen as the , but her to jamie dimon left the firm years ago. now he is favored to succeed at barclays. alix: antony jenkins was a retail banking guidem. -- guy. mr. staley seems like a shift. back into trading, back into investment banking. that's a curious development from barclays. scarlet: this is according to "financial times." aley might be named as the new ceo of barclays. "what'de coming up on you miss?" ♪ scarlet: don't miss this, jp morgan's earnings are out tomorrow. financials, as we look inside the terminal, underperforming the broader market. a lot of weakness heading into this earnings around. a lot of banks, including j.p. morgan, have talked about a 5% drop year-over-year. alix: over the -- after the bell, we will hear from john: don't forget, there's one big wildcard. ♪ welcome to las vegas, site of tomorrow night's democratic presidential debate. first, obama. in an interview with 60 minutes and aired sunday, the president was asked about hillary clinton'

he was seen as a likely successor to the ceo but in 2013 he left for hedge fund blue mountain capital run by post mortemer jp morgan executives. he was a similar age to jamie dimon thinking he wouldn't get the spot. >> this is the second time barclays has approached je jes staley. the first was back in 2012 when barclays decided his contract was too expensive. in the end the british bank went for a change in direction and opted for a retail banker. we all know him. but this choice was an intentional switch from previous investment banker bob dimon. after three years at the helm mr. jenkins was ousted after disapproval of his leadership among those at the top. specifically one man, the chairman. >> earlier this year kelly evans spoke to him on u.s. closing bell where he made it clear he is in favor of big banking models. >> large banks provide the oxygen for large corporations. so i would -- >> so if they're so great, why don't you go work at one? >> the other phenomenon is that the buy side is doing quite well versus the sell side. so share of the financial market has clearly shifted

banking unit and was seen as a likely successor to jamie dimon but then leaving for hedge fund blue mountain capitalhich have been and are run by former jp morgan executives. so let's take a look at barclays approaching him for the second time. did you know that? according to the financial times the newspaper here in london the first approach was back in 2012 but barclays decided he was too expensive. his contract would be too expensive. in the end, the british bank went for a change in direction. they opted for retail banker anthony jenkins. he was ousted in july and i guess the choice was intentional since they were switching from the previous investment banker. bob dimon remember him before anthony jenkins? another american investment banker that headed up barclays. that's the latest from london. back to you guys in new york. >> thank you very much. susan li and we'll be talking more about this story. in the meantime, earnings is the major focus of the markets this week. johnson & johnson posting results before the bell and then we'll be hearing from jp morgan and intel this afternoon. joining us

he was with blue mountain capital.ial person familiar, the bank told regulators the front runner could be appointed within the next couple of weeks. anna: no sizable lead up in china's economic slow down as imports sale 17.7% in september. the longest losing streak in six years. exports were above expectations. -ab inbev deal. we want to know what kind of premium you could get. 21%, 44 is the price we are at. thomas joins us. what clinched the price? what is going on? withter: it has to do price. the back-and-forth of negotiations and we initially saw an informal offer of maybe 38 and then 40 and then 42. increments in small and it is good to see 44 area sab is happy. under tremendous pressure to agree. anna: the deadline was looming and quicker action toward a price area what does it mean for shareholders? thomas buckley: well, part of the company that has always been focus on profits and value generation over a period of time and fascinating. ab inbev acquired and delivered extremely quickly. done?s it a deal is the

currently a managing partner at blue mountain capital, staley worked at j.p. morgan for 30 years. he was moved to another role in 2012. he was among the candidates considered back in 2012. jenkins was pushed out this summer amid disappointment he moved too slow to restructure barclay's. they promised a tough 18 months ahead of cost cutting and asset sales. he spoke of building up the investment bank. it was hit by the financial crisis. jp morgan's investment bank performance was more about revenue and market share gains which is what is needed in the current business and regulatory environment. cnbc's calls to staley were declined and barclay's declined comment. >> all right. miller reaching what they call a pact in principle on the key terms of a deal in which abnbev. it would create the world's biggest brewer. 30% of market share across the globe after divestitures. under the agreement, shares of miller will get $67.60 share in tax. ab would agree to a best efforts commitment to obtain any regulatory clearances before the deal closes. and get this there is a $3 billion payment t