Barclays Should Break Up, Spin Off Lehman, Bernstein Says

  • Jes Staley should also exit Africa, sell U.S. cards business
  • Bernstein cuts earnings forecast, price target in note

Barclays Plc Chief Executive Officer Jes Staley should take the “big decisions” to spin off its investment bank and sell its Africa unit to fix the U.K. lender, which trades at about 40 percent less than its book value, according to Sanford C. Bernstein Ltd.

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