BARCLAYS chief executive Bob Diamond has warned that many banks will not survive the transition to “the new environment” of higher capital and liquidity requirements.
Speaking at a conference hosted by Morgan Stanley, Diamond also said that Barclays is “at an advanced planning stage” with its “living will” or resolution plan, in cooperation with several regulatory bodies. He did not detail what the resolution plan would look like.
On the changing landscape of the industry, he said: “We’ll see a divergence in the industry between those that are able to respond… and those that are not. The gap between winners and losers will become greater than ever.” He said that Barclays’ “universal bank” model of retail and investment banking would be key to its success.