'We had a good, strong first quarter and we expect the rest of the year to be more of the same', Jenkins told Bloomberg Television’s Anna Edwards at the World Economic Forum in Cape Town. 'We’ve laid out a clear plan for the investment bank. We’re running that business for returns, we’re making good progress'.
Bloomberg reports that Jenkins has been under pressure to deepen cuts at the investment bank, the least-profitable part of the lender that’s incurred fines for Libor and currency-market rigging, after pledging to eliminate some 7,000 jobs.
John McFarlane, who joined as chairman in April, has vowed to reallocate capital and prioritize investment in the most profitable parts of the bank.
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