Barclays' new boss Antony Jenkins 'will not break up bank'

The incoming CEO of Barclays, Antony Jenkins, has acknowledged that there will be 'difficult decisions', but has vowed not to break up the bank or close down any existing business operations.

by Michael Northcott
Last Updated: 09 Oct 2013

After the twists and turns of the Libor scandal, and the heads that rolled at Barclays, investors will be hoping for a fresh start from new CEO Antony Jenkins. Appeasing the crowds, he has said that he will ‘need to move quickly and be bold’ in implementing reforms. Nice, responsible-sounding spin there, Jenkins.

However, he also added, that ‘you should not expect me to announce the breakup of the bank or the exit from whole business lines,’ and explained that he would not reveal any detailed plans until next year.

Perhaps he does not want to rock the boat with any big announcements so soon after the management turmoil. Probably wise to lie low for a while as the Libor scandal wreaks havoc with Barclays’ rivals…

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