BARCLAYS CEO: Warning to borrowers over interest-only mortgages

BARCLAYS CEO: Warning to borrowers over interest-only mortgages

'Welcome to Barclays, Mr Jenkins, you’re downgraded'

'Welcome to Barclays, Mr Jenkins, you’re downgraded'

After becoming chief executive office of one of the world’s most high-profile banks, Barclays’ new boss Antony Jenkins may have been expecting some notes of congratulations from his peers. But one week in, the UK bank has been on the receiving end of downgrades from analysts at Credit Suisse and JP Morgan.

Barclays Gets a Quiet Leader for a Change

Barclays Gets a Quiet Leader for a Change

As Chief Executive Officer of Barclays (BCS), Bob Diamond became a symbol of excess in the banking industry. His compensation totaled about £120 million ($190 million) from the time he joined the board in 2005. He was known for his outspoken style and counted Mick Jagger and golfer Phil Mickelson among his friends. Barclays’ new CEO, Antony Jenkins, is a low-key, collegial consumer banker who runs marathons and outlasted rivals to win the top job. “In Jenkins you’ve got the archetypal English CEO who is seen as rather safe, compared with the typically aggressive U.S. investment banker that was Bob Diamond,” says Alan Beaney, investment director at R.C. Brown Investment Management in Bristol, England. “His appointment signals that the bank is not going to be as brazen as it has been in the past.”

THE CITY INTERVIEW: Antony Jenkins has a passion to remove stain at Barclays

THE CITY INTERVIEW: Antony Jenkins has a passion to remove stain at Barclays

After the trials and  tribulations of recent months, which have left the industry battered, banking needs leaders with enthusiasm to take it forward.

Barclays’ new boss, Antony Jenkins, has it in spades. So much so that he managed to convince the board that after the disastrous flirtation with an investment banking leadership, that it was time to shift gears.

Asked whether there should be congratulations or commiserations on his rise  to chief executive, Jenkins showed no hesitation: ‘It’s absolutely congratulations.’ 

Barclays dismisses two senior staff in wake of rate-rigging scandal

Barclays dismisses two senior staff in wake of rate-rigging scandal

"Two senior Barclays staff from its US offices have been sacked in the wake of the Libor scandal.

According to reports, Barclays notified the US regulators that Ritankar “Ronti” Pal, who was the head of US interest rates trading in New York, was dismissed on 30 July because the bank had “lost confidence in him to supervise his own team”.

The bank also sacked Dong Kun Lee, a derivatives trader who reported to Pal, over engaging in “communications involving inappropriate requests relating to Libor”. Reports state three other traders under Pal are under scrutiny."

Barclays trading at wrong price says broker fan

Barclays trading at wrong price says broker fan

Barclays’ (LON:BARC) decision to appoint internal candidate Anthony Jenkins as its new chief executive was the right decision according to big fan Investec.

Outspoken analyst Ian Gordon who in July said then chief executive Bob Diamond was “going nowhere” just days before he resigned following the LIBOR scandal, said he was delighted with the appointment of Jenkins.

“Notwithstanding unwelcome external noise, he is extremely well placed to harvest Bob's rich legacy,” said Gordon.

Reports at the weekend quoted Jenkins as saying he would scale back investment bank arm BarCap because of tougher regulations and a stalled global economy.

Investec pointed out that under Bob Diamond's leadership, BarCap had already cut costs by £1 bln in 2011 and had increased its market share.