Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of 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
Brewin's Gutteridge & Foster talk property with Standard Life's Baggaley

Brewin's Gutteridge & Foster talk property with Standard Life's Baggaley

Gutteridge and Foster discuss UK commercial property with Jason Baggaley, manager of the Standard Life Property Income investment trust

Brewin's Gutteridge asks Odey's Tim Bond two tough questions

Brewin's Gutteridge asks Odey's Tim Bond two tough questions

Gutteridge puts the heat on Odey's asset allocation maestro with a couple of tough questions.

Brewin's Foster & Gutteridge: searching for the yield of dreams

Brewin's Foster & Gutteridge: searching for the yield of dreams

Guy Foster and Ben Gutteridge discuss the latest upbeat US payroll report and how it has increased the probability of a first hike in interest rates in June.

Your Business: Cover Star Club

Profile: Creechurch Capital’s CEO on going the extra mile in a crowded market

Profile: Creechurch Capital’s CEO on going the extra mile in a crowded market

Growing a business is the main aim of many company owners but managing that growth in a controlled way is just as important

Wealth Manager on Twitter