Barclays to keep "very significant" investment bank - CEO

LONDON Thu Jan 24, 2013 8:58am GMT

Barclays PLC Chief Executive Antony Jenkins speaks during the first day of the Clinton Global Initiative 2012 (CGI) in New York, September 23, 2012. REUTERS/Lucas Jackson

Barclays PLC Chief Executive Antony Jenkins speaks during the first day of the Clinton Global Initiative 2012 (CGI) in New York, September 23, 2012.

Credit: Reuters/Lucas Jackson

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LONDON (Reuters) - Barclays (BARC.L) will keep a large and "very significant" investment bank as part of a slimmer universal bank, its new chief executive said on Thursday.

"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," Antony Jenkins, who took over as CEO at the end of August, told CNBC in an interview from Davos on Thursday.

Jenkins is expected to cut hundreds of job cuts in the investment banking arm as part of a broader restructuring across the bank as part of a strategic review on February 12.

(Reporting by Steve Slater; Editing by Kirstin Ridley)

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