Top Firm CEO: We Will Continue To Have A Very, Very Significant and Large Investment Bank

Big Ben

Barclays wants to remain a big player in investment banking even though the British bank is cutting costs and jobs in that business.

Reuters reports that Antony Jenkins, who took over as Barclays chief executive at the end of August, is expected to cut about 2,000 investment banking jobs globally in a review of the bank's business due on February 12th.

'Barclays will continue to be a universal bank and it will continue to have a very, very significant and large investment bank as part of that universal banking model', Jenkins told CNBC in an interview from Davos on Thursday.

In the meantime, Bloomberg BlackRock has awarded CEO Laurence D. Fink $12.4m in equity compensation, according to a regulatory filing.

Fink’s award includes 32,884 shares, valued at $7.65 million, based on the Jan. 18 average share price of $232.63, New York-based BlackRock said. The bonus vests over three years, starting in January 2014. BlackRock awarded Fink additional shares, subject to certain performance goals, valued at $4.75 million, according to the filing.

Finally, The Wall Street Journal reports that Goldman Sachs is trying to block a shareholder proposal for an independent chairman of its board from appearing on the proxy ballot, following an effort last year against a similar proposal by another activist group that resulted in the company naming a lead outside director.

Barclays CEO wants to keep large investment bank

BlackRock’s Fink Gets Stock Award Valued at $12.4 Million

Goldman Fights Independent Chairman (subscriber content)

image: © Theodore Scott

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