Opinion
It Was the Strategy, Not the Execution, That Got Jenkins
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The markets know that a strategy based on combining full service banking and global capital market proficiency is extremely hard to execute.
By Roy C. Smith and Brad Hintz
Barclays was right to sack its chief executive – but it did it for the wrong reason.
With its abrupt ejection of Antony Jenkins, Barclays became the third of Europe’s four leading global investment banks to dismiss its chief executive this year.
The move against Jenkins was led by John McFarlane, who has been chairman for three months, and an old City hand, deputy chairman Sir Michael Rake (The Wall Street Journal reports today that Rake himself will leave the bank to become chairman of payments processing company Worldpay).
Read full article as published in Financial News
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Roy C. Smith is the Kenneth G. Langone Professor of Entrepreneurship and Finance and a professor of Management Practice. Brad Hintz is an adjunct professor of Finance.
With its abrupt ejection of Antony Jenkins, Barclays became the third of Europe’s four leading global investment banks to dismiss its chief executive this year.
The move against Jenkins was led by John McFarlane, who has been chairman for three months, and an old City hand, deputy chairman Sir Michael Rake (The Wall Street Journal reports today that Rake himself will leave the bank to become chairman of payments processing company Worldpay).
Read full article as published in Financial News
___
Roy C. Smith is the Kenneth G. Langone Professor of Entrepreneurship and Finance and a professor of Management Practice. Brad Hintz is an adjunct professor of Finance.