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Barclays CEO Calls for Free Banking to Be Reconsidered, FT Says

John Varley, chief executive officer of Barclays Plc, said the concept of free banking in the U.K. should be reconsidered, the Financial Times reported, citing comments by Varley at a debate organized by the government- appointed Commission on Banking.

“It is possible that free-if-in-credit banking is a structure that has outlived its time,” Varley said, the newspaper reported.

To contact the reporter on this story: Jack Jordan in London at jjordan22@bloomberg.net.

To contact the editor responsible for this story: Colin Keatinge at ckeatinge@bloomberg.net.

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