Barclays is considering cutting ties with a large number of investment banking clients as part of a £1 billion cost-cutting initiative aimed at improving its returns.
The move comes as Barclays’ CEO C S Venkatakrishnan faces pressure to enhance profitability and boost the bank’s stock market valuation, which currently lags behind its competitors.
The bank’s plan involves severing connections with thousands of less profitable investment banking clients as a means to improve its return on equity.
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