The inside man
[RE: Barclays appoints Antony Jenkins as chief executive, Thursday]
Antony Jenkins is a surprising choice, but it may have been better if outside executives were appointed. Take nothing away from the validity of Jenkins’s candidacy; it was first class. He ticked all the boxes. He was a “Barclays Man” through to the core. He is a retail banking titan, not remotely scarred by the vagaries of investment banking. Notwithstanding the fact that Jenkins ticked all the boxes and maintained continuity, his appointment came as something of a surprise to market observers. There will have been concern over the credibility and trust gap, which will not have been narrowed by an internal appointment, since chairman elect, Sir David Walker, cannot be considered as a long-term proposition. It is imperative that Jenkins makes further influential executive appointments from outside the bank, which would endorse Barclays’ commitment to change its culture and rekindle trust, which has recently dissipated with regulators and its high street customers.
David Buik, Cantor Index
Can you hear the death knell sounding on investment banking in the UK? This appointment, like everything else in banking, was done to appease Joe Public. It is an absolute outrage.
Ambramovich has won a £3bn court case. Messi to Chelsea? Ronaldo to Chelsea? Everyone to Chelsea?
Bernanke stays on the right course by refusing to print more money which the speculators were calling for. Next to Mr Draghi.
When this whole GCSE thing started, I said that it was deliberate and political. I would have loved to be have been proved wrong.
I can’t wait until Lord Ashdown bumps into Lord Oakshott.