Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Barclays chief: financial crisis threat looms to 2020

Barclays chief: financial crisis threat looms to 2020

The threat of another financial crisis is likely to loom until 2020, Barclays chief executive Antony Jenkins has warned. 

Speaking at Davos, the Telegraph reports that Jenkins (pictured) has cautioned that banks are not the only threat to the global financial system.

He said there is still work to be done in spite of increased regulation across the banking system, warning that the focus should not be on banks alone.

'It is very difficult to argue the financial system is not safer than it was in 2008, the question is how much safer,' Jenkins explained.

'Levels of supervision are more favourable…the emphasis that institutions place on culture and conduct has reduced the probability that the events of 2008 will be repeated. But it does not eliminate them. We still have a significant amount of work to conclude – this will not happen until close to the end of this decade.'

Jenkins, who took charge of Barclays in 2012 after the Libor crisis added: 'If we don’t take a systemic approach, we could fight yesterday’s war only to find it move to another part of the financial system. The system is safer, but it needs to be safer yet, and societies around the world need to decide through a democratic process how we balance safety and soundness with capacity.'

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Taxicab Tenner: AXA IM's Nicolas Trindade

Taxicab Tenner: AXA IM's Nicolas Trindade

After a summer break, it is the turn of AXA Investment Manager's Nicolas Trindade to give a £10 view of how fixed income is faring.

Play Wealth Manager Olympics: the Relay

Wealth Manager Olympics: the Relay

In the final round of the Wealth Manager Olympics, our intrepid athletes team up for the relay.

Play Wealth Manager Olympics: the Shot Put

Wealth Manager Olympics: the Shot Put

After busting a gut in the 100m sprint, our wealth manager Olympians displayed their brute strength in the shot-put.

Read More
Your Business: Cover Star Club

Profile: gearing up for the shift from consolidation to start-ups

Profile: gearing up for the shift from consolidation to start-ups

‘I think the industry is evolving rapidly, but not necessarily as a whole,’ says the head of recently launched Charles Nicholson AM

Wealth Manager on Twitter