Barclays Plc Chief Executive Officer Antony Jenkins’s pledges to shred the legacy of his predecessor and fix the lender’s culture are distracting from the difficulty he has in reviving profit at Britain’s biggest investment bank.
Royal Bank of Scotland Group Plc, Britain’s biggest publicly owned lender, named the head of its U.K. consumer unit chief executive officer as the government presses the lender to shrink its investment bank.
U.S. stocks tumbled, capping the biggest weekly drop since January, as criminal investigators took aim at Goldman Sachs Group Inc. and technology shares slid after MEMC Electronic Materials Inc. posted a loss.
Barclays Plc, the first U.K. lender to report first-quarter results, may report a rise in profit at its investment bank, helped by gains in the U.S. as Europe’s sovereign debt crisis crimps income from the region.
HSBC Holdings Plc, Europe’s biggest bank, slid in London and Hong Kong trading after profit missed analysts’ estimates and Chief Executive Officer Stuart Gulliver said fast-growing emerging markets are slowing.