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In the News

New Leadership Skills Required at Barclays

After three years at the helm, Antony Jenkins has been fired as CEO of Barclays. The Board have decided it's time for a change having disagreed with Jenkins' strategy, particularly the pace of organisational change and the role of Barclay's investment banking division.

Jenkins was appointed as an internal candidate back in 2012 to guide Barclays through a particularly turbulent period.

The fallout from the financial crash was one thing. But Barclays had also been implicated in a series of financial scandals that had damaged the the business both financially and reputationally.

Jenkins' response was Project Transform - a major organisational culture change programme which everyone in the business had to complete.

It looks like it wasn't enough for the board who are said to have wanted Jenkins to move much faster in cutting costs to make Barclays more efficient and profitable.

Was Jenkins not ruthless enough? As an internal recruit, did he lack the hard-nosed edge to take the knife to what the board still feel is a bloated organisation?

The video discussion below by the excellent FT team explore some of the reasons for Jenkins' departure. They suggest that there had been rumblings about Board discontent with this performance as CEO for some time.

The discussion raises some interesting issues about the kind of leadership skills required by the CEO of Barclays. They describe Antony Jenkins as "Saint Antony"!

It looks like the Board want to move away from organisational cultural change and focus the business much more on hard-nosed commercial matters - cutting costs and working harder to raise revenues.

That sounds like the next CEO of Barclays will have a quite different leadership style. Will the chosen candidate be another internal candidate - or someone from outside? I suspect the latter.

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