Page 55 - Flip Banks TG
P. 55
Strategy
Jes Staley, has come in for persistent criticism from
shareholders and analysts for his enduring commitment to
the investment bank built up under Bob Diamond. But his
strategy is delivering results otherwise the Institutional
Shareholder Services vote in the May 2018 AGM would not
have supported him and by extension his strategy.
The strategy is founded upon:
Two clearly defined divisions:
• Barclays UK and Barclays International provide
diversification across customers and clients, products
and geographies delivering resilience and balance to
the Group
The foundation will enable Barclays to deliver its
strategy of building a simpler, stronger and more
profitable bank
• Barclays has completed its restructuring with the
closure of Non-Core on 1 July 2017, sale down to a
target 15% stake in Barclays Africa Group
But, the question has to be asked – What has Staley actually
changed?
From the outset Staley continued what Jenkins had set in
motion e.g. continuing along the cost-cutting and de-risking
course as well as seeking a ‘less capital intensive’ investment
arm whilst driving down the RWAs to £27 bn.
