Barclays’ PR-driven makeover continues, even at the expense of being a full-service investment bank.
First, the ever-popular
tax-avoidance tax-structuring business gets the chop. Now, the bank is telling hedge funds—easy targets in Europe, it must be said—to get lost, in the name of helping poor people eat. Hey, look, a bit of candor:
Chief Executive Antony Jenkins told a news conference on Tuesday the bank was exiting speculative trading in softs and agriculture due to “reputational reasons”, but was sticking with the overall commodities sector.