Barclays names new chief executive
BARCLAYS has named its new chief executive, Manchester-born Antony Jenkins.
Mr Jenkins, who began his career at the bank 30 years ago, was previously head of retail and business banking.
He replaces Bob Diamond, who stepped down following revelations of rate fixing at the bank.
Mr Jenkins, who grew up in Stoke-onTrent, will aim to restore the reputation of the bank, further damaged by the prospect of a Serious Fraud Office investigation into payments the bank made to Qatar’s sovereign wealth fund four years ago.
Dubbed banking’s “Mr Nice Guy” by some, he will be paid £1.1m and bonuses will be limited to 250% of the salary.
He said: “Barclays is a strong universal bank, with many assets, including market leading businesses; talented and engaged staff; and long-standing clients and customers.
“But we have made serious mistakes in recent years and clearly failed to keep pace with our stakeholders’ expectations. We have an obligation to all of those stakeholders – customers, clients, shareholders, colleagues and broader society – and a unique opportunity to restore Barclays reputation by making it the “go to” bank in all of our chosen markets.
“That journey will take time, we have much to do, and I look forward to getting started immediately.”
He joined Barclays in 1983 before moving on to Citigroup five years later. He became chief executive of Barclaycard in 2006 and took the top job in the retail and business banking arm three years ago.
