Barclays’ Redevelopment Continues to Falter
We have looked at Barclays on quite a few occasions here in Financial Regulation Matters , and today’s post continues with that theme. Following on from developments surrounding financial penalties for the firm , and also the scandal involving Jes Staley and his attempts to uncover a whistleblower , recent news regarding the potential future for the Bank deserve to be discussed as it continues to attempt to redevelop itself within the post-Crisis era. Earlier this month, the Bank made the headlines for successfully ‘ring-fencing’ their consumer-focused element of the company, which the Bank described as ‘ the biggest banking start-up ever ’. In responding to the British Government’s insistence that ‘ the largest UK banks must separate core retail banking from investment banking ’, the bank successfully completed the transfer of more than 24 million customer accounts, which equated to more than £250 billion worth of assets. In addition, which is extremely topical, the ring-fencin...