Last checked at 
* Barclays 4th big European bank to change CEO this year
* Shares rally each time, adding $8 bln to market values
* Credit Suisse up 8 pct, StanChart and Deutsche also rose
* New CEOs to cut costs, simplify and maybe raise cash
* Barclays needed "someone to motivate" staff -chairman
By Steve Slater and Sinead Cruise
LONDON, July 9 (Reuters) - Barclays has joinedthree other European banks in ousting its chief executive, atop-level clear out that has raised expectations of big changesat the banks and triggered an $8 billion jump in their marketvalue.
Barclays and others banks have struggled to revive theirfortunes and provide attractive returns for investors after thefinancial crisis because of tougher regulations and high costs.
Barclays Chairman John McFarlane said the new CEO, who hasnot yet been chosen, needs to cut the bank's assets moreaggressively and accelerate an increase in shareholder value. Hehas ruled out the need to raise capital.
The new leadership at Standard Chartered, CreditSuisse and Deutsche Bank could speed upthat slow pace of change since the crisis.
European banks have taken longer to recover than rivalselsewhere. The return on equity of European banks averaged lessthan 9 percent last year, compared to about 15 percent in NorthAmerica.
New CEOs Tidjane Thiam at Credit Suisse, Bill Winters atStandard Chartered and John Cryan at Deutsche Bank could tapexisting shareholders for cash to improve capital strength andprovide growth options, bankers and analysts said.
But they will only succeed if they simultaneously offer aconvincing revival plan.
"If you want investors to focus on your operationalperformance rather than your cash position, the obvious thing todo is to take whatever action necessary to put that cashposition beyond doubt or criticism," Guy de Blonay, fund managerat Jupiter Asset Management, said.
"A cash call should be received relatively well if thestrategy makes sense, and if there's a new leader at the helm,who can articulate clearly what is best for the company."
The new CEOs are meeting investors, regulators and staff toreview the businesses they have inherited and are expected tounveil plans between October and the end of the year.
EXPECTATIONS HIGH
The favourite to take over at Barclays is the bank's financedirector Tushar Morzaria, 46, who joined from JPMorgan two years ago, although the bank said it will look at externalcandidates.
McFarlane said the new Barclays boss needed to be able to"motivate the organisation."
There are expectations that Winters, Thiam and Cryan, all intheir early 50s, can balance hard pruning with more coherentgrowth plans.
Cryan faces the toughest task. He inherits a bank with oneof the lowest valuations in the global industry, partly due toworries about its over-reliance on investment banking andlow-return German retail banking.
The former investment banker spent years advising banks onstrategy before becoming finance director at UBS in2008, when he helped negotiate its rescue by the Swissgovernment. He has told staff to expect tough reforms asDeutsche is too complex.
He is expected to make cuts but also try to maintainDeutsche's position as Europe's leading investment bank. AfterDeutsche raised $11 billion in June 2014 Cryan is likely to putoff raising cash again to next year, investors and bankers said.
"The priority now will be fine-tuning the strategy,concentrating on cost cuts and disposing of non core units in amore systematic fashion," Filippo Alloatti, senior creditanalyst at Hermes Investment Management, said.
Winters also has a lot of work to do. The former co-CEO ofJPMorgan's investment bank was one of five members of aBritish government commission set up to make banks safer.
He is expected to cut the number of countries StandardChartered operates in, speed up decision-making and ramp upexisting cost-cutting plans.
His plans could include setting aside more money for loanlosses, which could be accompanied by raising $5 billion or morefrom a rights issue and cutting the dividend, bankers andanalysts said.
Thiam, former boss of Prudential, could raisebetween 6-12 billion Swiss francs ($6.3-$12.7 billion) toimprove capital ratios and amass firepower for growth, thebankers and analysts said.
Thiam is expected to slim down the investment bank and weedout weaker areas, while expanding wealth and asset management inAsia.
"The CEO has a reputation for asset gathering ... and youcould see him sell a capital raising story on the idea ofturning CS into something more than just a bank but an assetmanager as well," Alloatti said.
NEW BOSSES WARN STAFF: "BEHAVE"
Barclays' new boss is almost certain to follow Thiam,Winters and Cryan in another major challenge: addressingcompliance and standards, after problems with authorities in theUnited States and elsewhere.
In messages to staff on their first days, the CEOs pledgedto uphold standards and hold staff accountable for anywrongdoing.
Shares in Barclays, Credit Suisse and particularly StandardChartered and Deutsche Bank have lagged rivals in the past 18months, partly due to hefty fines for misconduct.
But on the days when CEO changes were announced, CreditSuisse shares rose 8 percent, Standard Chartered 5 percent,Deutsche 4 percent and Barclays 2 percent, adding a combined$7.9 billion to their market values.
Matching the expectations reflected in the share price jumpcould be the CEOs' biggest challenge. Thiam said two years agoexpectations can leave a CEO feeling like they are walking atightrope.
"If you really believe in what it is you are trying toachieve it helps you go through a journey and walk withoutlooking down," Thiam said.
($1 = 0.9480 Swiss francs)
($1 = 0.6496 pounds) (Additional reporting by Josh Franklin in Zurich and KathrinJones and Thomas Atkins in Frankfurt. Editing by Jane Merriman)
