- Calling it a radical overhaul, the FT reports the move will result in thousands of job cuts and boost pressure on the unit's heads - Tom King in the States and Eric Bommensath in Europe. The shakeup comes amid shareholder unrest following the bank's increasing bonus payments by 10% last year despite declining profits, and some investors have indicated they will vote against the compensation package at next month's annual meeting, putting pressure on Barclays (BCS +0.4%) CEO Antony Jenkins to take action.
- The new strategy is expected to be unveiled before summer and could include replacing King and Bommensath, though Barclays denies plans for a leadership change. Both of them were appointed just one year ago.
From other sites
at CNBC.com (Apr 7, 2015)
at CNBC.com (Mar 27, 2015)
at CNBC.com (Mar 25, 2015)
at CNBC.com (Mar 18, 2015)
at CNBC.com (Mar 17, 2015)
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