Barclays' Jenkins pledges not to break up bank

clock

Barclays' new boss Antony Jenkins has vowed not to break up the bank by axing its investment banking operation.

On an investor conference call yesterday, Barclays new chief executive pledged to make "quick and bold" reforms to restore the beleaguered bank's reputation, the BBC reported. However, Jenkins said there were no plans to break up the bank and sell off its investment arm. He said that a "premier investment banking franchise" was necessary and stressed "I have been, and continue to be, a supporter of Barclays' universal banking model" which unites high street and investment banking. Barclays has been embroiled in scandal in recent months over its traders' manipulation of LIBOR. Th...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Advisers expecting more of asset managers since Consumer Duty

Advisers expecting more of asset managers since Consumer Duty

‘We actually need to understand one another better’

Hope Coumbe
clock 27 March 2024 • 1 min read
Fears tech limitations could stall MPS on its upward trajectory

Fears tech limitations could stall MPS on its upward trajectory

‘There have been a few changes and challenges around growth in general’

Hope Coumbe
clock 27 March 2024 • 1 min read
Partner Insight: Beyond 60/40

Partner Insight: Beyond 60/40

Invesco
clock 27 March 2024 • 5 min read