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Correct. And they are now lobbying aggressively for the ringfence to be removed again (their investment bank is not regarded as economically sustainable as an i
by hogFeast 5y ago
Correct. And they are now lobbying aggressively for the ringfence to be removed again (their investment bank is not regarded as economically sustainable as an independent operation).
- zahllos 5y agoI would argue yes and no (for the split). They created two separate legal structures under Barclays PLC, since they had to (https://home.barclays/who-we-are/ring-fencing-explained/ https://home.barclays/who-we-are/ring-fencing-explained/) but as a consumer would you notice? The branding remains the same and the consumer probably doesn't notice when interacting with Barclays. Can't comment on the investment bank situation, but I know they went through a few CEOs a few years back :)
- gadders 5y agoI think they did what they were required to do under the law. They don't have to become two wholly separate companies, just ensure that the investment bank going under doesn't jeopardise the solvency of the retail banking operation. HSBC has done similar.