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Antony Jenkins said he will outline his plans for Barclays in the first quarter of next year. “The challenges that confront investment banking as an industry are driven by regulatory change and the economic environment,” the new CEO said by telephone today. “It requires us to think strategically about the direction of investment banking.” The investment bank is led by Rich Ricci, a Diamond appointee. With increased regulation from Europe and the U.K., volatile market conditions for mergers and acquisitions and continuing criticism of bankers’ pay by politicians, Barclays has faced calls from analysts and shareholders to either sell the division or reduce its size. “The Barclays Capital decade and Bob Diamond will be confined to history,” said Simon Maughan, a financial industry strategist at Olivetree Securities in London. “What investors want to see is far more dramatic cost cutting, and the question is will Jenkins be enough of his own man to do it. It’s not Barclays’s style.” [Bloomberg]

As you may have heard, earlier today, people working in 2 World Financial Center were evacuated from the building after a suspicious package was flagged by security. Initial reports claimed it contained a grenade; obviously this was cause for alarm and would have continued to be had the NYPD determined it to be an actual grenade and not a “grenade-like novelty item,” mounted on a plaque with a sign that says “Complaint Dept. Pull Pin.” Now that it’s clear everyone is safe (and at least mildly buzzed), a few questions need answering. Read more »

A few months ago, I was standing in a crowded elevator when Jamie Dimon, the chief executive of JPMorgan Chase, stepped in. When he saw me, he said in a voice loud enough for everyone to hear: “Why does The New York Times hate the banks?” It’s not The New York Times, Mr. Dimon. It really isn’t. It’s the country that hates the banks these days. [Joe Nocera/NYT]

Do you have a question for us? About anything? Send it here with the subject line “What do you think of this, Dealbreaker?”

Q: If you had to assemble hedge fund all-star team, that would invest together for a year or five or whatever time-horizon we decide on (the All-Star Game, it’s them versus the market), which managers would be on it? Read more »

  • 06 Dec 2011 at 6:10 PM

Citigroup To Keep The Layoffs Coming Next Year

Last month, Citigroup announced that it was mulling over the idea of relieving 3,000 employees of their commitments to the firm. A couple weeks later, it decided that yes, that sounded like a good idea, and began giving people the signal. Perhaps to a) send a message that no one should get comfortable yet and b) make it clear to existing staff holding out hope that it was true their direct report just ran out for a pack of smokes and would be “back in 10″ that no, Daddy’s not coming home, Uncle Vik announced today: Read more »

  • 01 Dec 2011 at 12:28 PM

A Modest Proposal

A reader/FEC enthusiast asks: “Today’s Living Social deal for five Big Macs and five large fries BEGS for a New Normal eating challenge. Someone has to have a hungry analyst, right?” Read more »

  • 08 Jul 2011 at 10:17 AM

David Einhorn Has A Question

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  • 17 Mar 2011 at 1:17 PM

Charlie Gasparino Has A Question

“Is Lloyd Blankfein ready to leave the firm?” Chaz has apparently hunted down some of Lloyd’s “friends,” who may or may not have told him LB might be ready to leave the firm, might not be ready to leave the firm or hasn’t decided what he’s feeling at the moment. Read more »