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Ousted Barclays CEO Turns £1 Million Into £600 Million Startup

One-time establishment banker Antony Jenkins is now looking to upend the finance industry

Antony Jenkins at the 10x offices in London, on April 12.

Antony Jenkins at the 10x offices in London, on April 12.

Photographer: Chris J. Ratcliffe/Bloomberg

In an office not far from the Houses of Parliament, Antony Jenkins is plotting the future of global banking. His ambition is to serve one tenth of the world’s population — or one billion people — by providing the technology behind everything from checking savings to loans. 

Jenkins’ business, 10x Banking Technology, is a player in London’s burgeoning fintech scene. It was valued at about £600 million ($756 million) at its most recent funding about a year ago, with Jenkins’ own stake worth £200 million. Among its backers are JPMorgan Chase & Co., Blackrock Inc. and Ping An Insurance Group Co.