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Speaking on Radio 4, Barclays CEO Anthony Jenkins continued his ongoing theme of openness with an admission that it could take a decade for banks to win back public trust. Commenting on the series of scandals which have destroyed the public’s faith in the banks, Mr Jenkins said that “trust is a very easy thing to lose, and a very hard thing to win back” but went on to say that he “can only be responsible for Barclays but I’m hoping in what we do at Barclays we can also rebuild trust in banking.”
The comments came in a Today programme which Mr Jenkins guest edited on 31st December. Taking part in the programme at Anthony Jenkins’ invitation was the Archbishop of Canterbury, Justin Welby, a strong critic of the City in recent years. Speaking of the way in which the last 30 years saw an increasing focus on “maximising shareholder return and a progressive loss of vision as to what banks were for in society” Justin Welby called for “justice and hope” in the future of banking.
Echoing Mr Jenkins’ belief that there will be no quick fix the Archbishop went on to say “The challenge for leadership is to change that culture, that says we are not here just for ourselves, we are here for the whole of society, and that is a massive, massive challenge and will take a very long time to turn around.”