Barclays should pick an investment banker as its next chief executive officer because the lender’s underperforming securities unit requires further restructuring, Aberdeen Asset Management's Martin Gilbert said.
'To try and be everything to everyone is not a great strategy now for an investment bank', Aberdeen’s CEO said in a telephone interview on Thursday. 'What they should do is concentrate at what they are good at. That’s why it needs someone with a bit of investment banking, as well other banking, experience, and they’re more difficult to find'.
Bloomberg News reports that Chairman John McFarlane, 68, fired CEO Antony Jenkins, a former retail banker, this month after he clashed over strategy with investment-banking chief Tom King, people with knowledge of the matter have said.
McFarlane has pledged to boost investment and revenue in Barclays’s best performing units and double the share price over the next three or four years.
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