Bloomberg News

Barclays Chairman May Shrink Investment Bank, Times Reports

August 12, 2012

Barclays Chairman David Walker

Barclays Plc's new Chaiman David Walker. Source: Barclays Plc via Bloomberg

The new chairman of Barclays Plc (BARC), David Walker, will review pay policies and the balance between retail and investment banking, according to the Sunday Times.

The investment-banking unit, formerly known as Barclays Capital, may be cut by as much as 20 percent, the newspaper reported, citing people it didn’t identify.

Perry Jones, a London-based spokesman for Barclays, declined to comment when contacted by Bloomberg News today.

To contact the reporter on this story: Isaac Arnsdorf in London at iarnsdorf@bloomberg.net

To contact the editor responsible for this story: Mike Harrison at mharrison5@bloomberg.net


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