In his first public appearance on the job McFarlane appeared at the bank’s annual general meeting, and a series of small investors told the assembled shareholders that they saw an axe on the way.
The Daily Telegraph reports that one reminded the board that only two directors at Aviva survived McFarlane’s reign as chairman at the insurer. Another welcomed his 'chainsaw' to the banking group.
Neither of those investors sounded unhappy at the prospect of a serious shakeup at Barclays, but surely neither expected such a sudden change so quickly – within three months, chief executive Antony Jenkins was fired.
McFarlane, however, doesn't think that he is a 'Mack the Knife', saying: 'You can look to my track record in how I execute these things, and it is largely about growth and returns, not just about costs'.
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