Does Jes Staley have a radical reinvention diagram? Or is he going to offer another uninspiring round of cost-cutting? ‘Our stock price is broadly where it was immediately after the global financial crisis,six years ago,” said Barclays chairman John McFarlane last July, or sympathising with the bank’s “incredibly patient” investors and vowing to “accelerate the delivery of shareholder value”.
His observation approximately the share price is now out of date. Barclays has plunged from 280p to 173p – back to where it was in the shadowy days of 2012 when Bob Diamond was forced to resign as chief executive.
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Source: theguardian.com