New Barclays boss aims to rebuild reputation
By Mark Fordham
The new boss of Barclays Antony Jenkins has said he will be quick and bold in making reforms at the bank to improve its standing.
Mr Jenkins is faced with the arduous task of rebuilding the bank's tattered reputation after a series of scandals, including the Libor interest rate-fixing for which it was fined £290 million.
He has stated that the bank will seek to stop activities that have hurts its standing in the past.
However, Jenkins has confirmed there will be no break up of operations by selling off the bank's investment arm.
This is despite critics suggesting that this form of banking encouraged the kind of risk taking that led to the financial crisis.
Jenkins refused to be drawn on details of the changes, but he said he would elaborate on them early next year.
"It's clear we have made some serious mistakes in the last few years and failed to keep pace with our stakeholders' expectations. But we have a tremendous opportunity to change," he said.
11 September 2012, 12:31