Page 56 - Flip Banks TG

Staley is retreating from Asia and Africa not out of any

reluctance to seek out higher risks and higher rewards, but

because he wants to take these risks and rewards from his

two identified areas of potential. First:

“At the heart of Barclays’ strategy is to build on our

strength as a transatlantic Consumer, Corporate and

Investment bank anchored in the two financial centres

of the world, London and New York,” Staley

The second, is its ring-fenced UK retail bank.

However, for Staley and his strategy, there is light at the end

of the tunnel as regulatory fines draw to an end. Staley has

promised that his ‘dramatically simplified’ bank will ‘pay out

a significant proportion of earnings in dividends to

shareholders over time’.