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Financial Times

Barclays review: Tell me something I didn’t know

Lex is a premium daily commentary service from the Financial Times. It helps readers make better investment decisions by highlighting key emerging risks and opportunities.

How ironic. A report into what went wrong at Barclays, which points the finger partly at excessive pay, cost a whopping £17-million ($26-million) to produce. The bank could hire a consultancy for years for that kind of money. Still, if the 236-page report with 34 recommendations helps steer Barclays away from the behaviour that has led to £4-billion of provisions and fines in recent years, then £17-million is money well spent.