Barclays boss patience tested by investment bank

Barclays Canary Wharf

Barclays CEO Antony Jenkins’s patience is being tested by the investment bank.

Bloomberg News reports that the 53 year-old told reporters on Tuesday that he’s 'not a very patient person', and pledged to 'do whatever it takes' to boost returns at the investment bank.

The division reported a 2.7% return on equity in 2014, down from 8.2% a year earlier, trailing Jenkins’s group target of 12% and making it the least profitable of four units.

Since taking over in 2012, Jenkins has seen his efforts to boost earnings undermined by rising costs tied to past misconduct at the investment bank. Barclays set aside $1.9bn in provisions last year to cover settlements into allegations it manipulated currency markets, contributing to a 21 percent drop in pretax profit.

To access the complete Bloomberg News article hit the link below:

Barclays CEO Patience Tested by Investment Bank Lagging ROE

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