LONDON: Barclays is axing at least 3,700 jobs and pruning its investment bank as its new boss put his stamp on the troubled British bank by aiming to cut £1.7bil in annual costs and raise standards after a series of scandals.
The plans form part of an overhaul which chief executive Antony Jenkins hopes will convince a sceptical public that he can change a bank which has been dogged by controversy, including a US$450mil fine for rigging Libor interbank lending rates.
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