iPhone | iPad
Android
Huawei
This came after Netanyahu's government announced the closure order for an initial period of 45 days
KT APPDOWNLOAD
Barclays’ new chief to cut down investment banking
The new boss of British lender Barclays wants to shrink its investment bank division as he seeks to move on from rate-rigging and mis-selling scandals, he indicated in an interview published on Sunday.
Chief executive Antony Jenkins told The Sunday Times newspaper that there was “no doubt” that tough banking sector regulations would “make some activities in investment banking difficult to make an adequate return on”.
He added that profits would be hit by British plans to force banks to ringfence their retail activities.
At the same time, Europe’s major banks will also be forced to hold more cash as a buffer against any other financial crises, under looming Basel III rules.
“There are a number of external factors coming down the line and regulation is clearly a very powerful one,” Jenkins told The Sunday Times.
In a separate interview, the new Barclays chief added that he wanted to do more “listening than talking” as he seeks to turn the group’s fortunes around.
“I’m going to spend a lot of time with external shareholders. I’ll be listening a lot more than I’m talking. That’s an important way of operating,” he told the Sunday Telegraph. “I want to hear what’s on investors’ minds. If they’ve got concerns about how we run the bank, then I would anticipate we’ll change the way we do business.”
Jenkins, formerly Barclays’ retail and business banking boss, was appointed chief executive last Thursday with immediate effect. —
More news from
Maximising benefits and unlocking strategies
Campbell's decision to depart the franchise in June 2022 stemmed from feeling inadequately compensated for reprising her role as Sidney Prescott in the sixth instalment
Dubai developer Aark unveils Dh4 billion project on Al Marjan Island
It's a carefully orchestrated affair with its own set of rules
Not removing the previous tag could lead to charges or even fines
The country narrowly averted default last summer, and its $350 billion economy has stabilised after the completion of the last IMF programme
From producing royalty-free tunes to personalised compositions that adapt to moods and habits, founder of a pioneering AI music startup in Dubai discusses its potential to reshape the entertainment landscape