Ex-Barclays boss: Sacking ‘source of regret’ but I’m still proud

Undated handout photo issued by Newscast of Barclays Group Chief Executive Antony Jenkins. Photo: N

Undated handout photo issued by Newscast of Barclays Group Chief Executive Antony Jenkins. Photo: Newscast/PA Wire - Credit: PA

Antony Jenkins has said his sacking as Barclays chief executive this summer is a 'source of regret'.

But he said he was 'proud' of his three years at the helm and he believed he left the bank in 'much better shape' than when he took the job.

Mr Jenkins took on the role in August 2012 as Barclays was subject to a Serious Fraud Office inquiry and faced a raft of lawsuits in the wake of the Libor scandal.

His first priority was to restore confidence in the lender and lead a step-change in culture, which saw him overhaul bonuses and pay throughout the bank.

But he spent much of his tenure fire-fighting as the bank continued to be engulfed by controversies.


You may also want to watch:


The bank's board fired him in July citing lacklustre revenue growth, as the banking giant's shares remain at the level they were six years ago.

Speaking to the BBC, Mr Jenkins said: 'It is a source of regret to me that I wasn't able to complete the work.

Most Read

'But when I look at what we achieved in three years I'm confident that the organisation (is) in much better shape. I'm proud of what I achieved, but I'm also very proud of what the people of Barclays achieved in working with me over that time period.'

He added he felt he needed five to 10 years to change the lender's culture.

Asked if he was shocked to receive the news in a phone call from chairman John McFarlane, he said: 'Well, I'm a human being, so I have to say that it was surprising to me, but I completely respect the authority of the board in choosing the CEO.'

'And I'm realistic. I've been in corporate life for over 30 years. These things happen. The bank was performing very well,' he added.

Shares in Barclays jumped 3% after the announcement of his sacking and last month it said its adjusted pre-tax profit for the nine months to the end of September lifted 5% to £5.2 billion, after the bank said it saw good growth across all of is core units.

Mr Jenkins has been replaced by American investment banker James 'Jes' Staley.

Become a Supporter

This newspaper has been a central part of community life for many years. Our industry faces testing times, which is why we're asking for your support. Every contribution will help us continue to produce local journalism that makes a measurable difference to our community.

Become a Supporter
Comments powered by Disqus