Barclays' Jenkins pledges not to break up bank

Barclays' new boss Antony Jenkins has vowed not to break up the bank by axing its investment banking operation.

On an investor conference call yesterday, Barclays new chief executive pledged to make "quick and bold" reforms to restore the beleaguered bank's reputation, the BBC reported. However, Jenkins said there were no plans to break up the bank and sell off its investment arm. He said that a "premier investment banking franchise" was necessary and stressed "I have been, and continue to be, a supporter of Barclays' universal banking model" which unites high street and investment banking. Barclays has been embroiled in scandal in recent months over its traders' manipulation of LIBOR. Th...