Under the spotlight (again).
The Financial Times reports that Barclays’ underperforming investment bank will be in the spotlight this week as its head makes a critical board presentation aimed at helping the group’s new chairman determine if more restructuring is needed.
After John McFarlane took over as chairman of Barclays in April he told every divisional head to be ready to present their plans to an off-site board meeting on Thursday as part of the British bank’s annual strategic review.
Tom King, the New York-based chief of Barclays’ investment bank, has been preparing for weeks for his presentation to the all-day meeting that will take place in the UK away from its Canary Wharf headquarters in London.
The focus on the investment bank comes after it launched a drastic restructuring last year involving 7,000 job cuts.
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