Jan 20, 2019
Investment banking: The battle for Barclays
The battle has implications not just for Barclays and the City of London, but also for Europe's financial services industry, given that it comes at a time of retrenchment among most of the continent's global investment banks. During the depths of the 2008 financial crisis, Barclays revived its interest in global investment banking by purchasing the US operations of Lehman Brothers out of bankruptcy, while also building a large European operation. Today, the corporate and investment banking division - an amalgamation of the investment bank and the unit that lends to large businesses - accounts for £176bn in risk-weighted assets versus £75bn at the retail bank. The challenger v the bankerEDWARD BRAMSON. Activist investor, SherborneHolds a 5.5 per cent stake in Barclays and is using it to try and force his way on to the board and engineer a shift in strategy away from investment banking to concentrate on its retail and credit card business. "The Barclays investment banking story has been a slow-motion car crash for decades," says the top-five shareholder.
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