Barclays Plans to Move 4,000 Investment-Bank Jobs to Save Money - Bloomberg
Chairman David Walker and CEO Antony Jenkins, 51, who took over after the lender was fined 290 million pounds in June 2012 for rigging the London interbank offered rate, are trying to cut costs by removing layers of management to improve returns. Britain’s third-largest bank by market value booked a 514 million-pound charge under its Transform program in April after closing branches in Europe and cutting investment banking positions in the region and in Asia.
Separately, Jenkins said they bank may have to cut lending if the Prudential Regulation Authority forces it to speed up its plans to meet a leverage ratio target of 3 percent by 2015.
No comments:
Post a Comment