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

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Dec. 3 (Bloomberg) -- 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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