Barclays boss faces biggest test

Antony Jenkins Barclays

Barclays boss Antony Jenkins faces one of the biggest tests of his leadership this month when he decides whether the bank should fight accusations it deceived and defrauded customers in the United States.

Reuters reports that if Jenkins accepts the allegations, made in a lawsuit filed by New York's Attorney General, he will face a dilemma arising from his pledge to jettison any business that does not fit into the bank's new, squeaky-clean image.

But the U.S. trading desk at the centre of the allegations is part of Barclays' equities business, an area it had planned to keep largely intact while shrinking its investment bank.

It comes at a time of mounting discontent among investors. Some say that after almost two years in the CEO hotseat Jenkins is failing to turn around both culture and performance.

To access the complete Reuters article hit the link below:

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