© Reuters.
DAVOS – Barclays is setting its sights on operational efficiency, aiming to cut $1B in costs from its investment banking division, a sector where it holds a commanding presence in debt capital markets. CEO C.S. Venkatakrishnan, speaking at the World Economic Forum in Davos, outlined the bank’s strategy to achieve these savings without undergoing extensive restructuring.
Under Venkatakrishnan’s leadership, Barclays has been actively implementing cost-saving measures. These measures include reductions in staffing and bonuses, reflecting a broader industry trend as financial institutions adapt to changing market conditions. The CEO also touched upon the bank’s stock value, which he suggests is currently undervalued, though he did not comment on recent actions by Qatar’s sovereign wealth fund, which sold a portion of its stake in Barclays.
The bank’s efforts to…
