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Barclays Chairman May Shrink Investment Bank, Times Reports

Barclays Chairman David Walker
Barclays Plc's new Chaiman David Walker. Source: Barclays Plc via Bloomberg

Aug. 12 (Bloomberg) -- The new chairman of Barclays Plc, David Walker, will review pay policies and the balance between retail and investment banking, according to the Sunday Times.

The investment-banking unit, formerly known as Barclays Capital, may be cut by as much as 20 percent, the newspaper reported, citing people it didn’t identify.

Perry Jones, a London-based spokesman for Barclays, declined to comment when contacted by Bloomberg News today.

To contact the reporter on this story: Isaac Arnsdorf in London at iarnsdorf@bloomberg.net

To contact the editor responsible for this story: Mike Harrison at mharrison5@bloomberg.net

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