Barclays's McFarlane Says `Tough Calls' Needed to Boost Returns

Updated on
  • Chairman says more can be done for investors in memo to staff
  • McFarlane says in memo bank has made some `genuine progress'

John McFarlane

Source: Barclays Plc

Barclays Plc Chairman John McFarlane told staff that the company will have to make some “tough calls” in the coming weeks as he seeks to boost returns and accelerate earnings growth, according to an internal memo seen by Bloomberg.
“Our shareholders have been incredibly patient but won’t be for long,” McFarlane, 68, wrote in the message to employees. “I would like the bank to be in a strong position in 2017, so we need to get on with the hard work now. We’ll need to make some tough calls in the coming weeks and months to ensure we have the best chance of doing this.”

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