Carney says that to that end, Rich Ricci, who runs the investment bank, is appearing in a film about the lessons the bank has supposedly learned from the Libor scandal. And all Barclays employees are expected to watch the video.
Many Barclays employees in New York City are veterans of Lehman Brothers and are understandably cynical about attempts by senior executives to repair the image of the bank.
'Good lord. This is just to provide cover so that Ricci can tell the FSA that he made us all watch this film', one employee said.
All very strange, when you consider Barclays alleged LIBOR villans didn't even work in the investment bank (they are said to have worked in Group Treasury).
In the meantime, The Sunday Mail reports that Barclays is turning a deaf ear to pressure from investors to break itself up in order to signal a decisive move away from the tarnished reign of former boss Bob Diamond.
The newspaper says that the bank’s remaining board – depleted by the resignations of Diamond, his aide Jerry del Missier and pay committee chair Alison Carnwath – is of the view that the investment bank is too valuable to ditch, given that it contributed more than 60% of the bank’s £4.2bn profit in the first six months of this year.
They believe the investment bank is an integral part of the business model and that large international clients will need its range of services.
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