Barclays is in the midst of reevaluating its strategy and its target demographic, said the BBC today.
In redefining itself as a "go-to bank," cutting back on its investment banking session. As a result, it has lost 25% of its typical profits, to £1.8bn. This is fresh on the heels of finance director Chris Lucas announcing he will step down.
I'm not sure what they mean by "go-to bank" - one where the common man can walk in and start a savings account? With such large amounts of money being managed, I think they are still focusing on corporate accounts.
The Collis & Rukstad article outline several banking institutions, and the different markets each of their strategies are targeting. I'm not sure if Barclays is 100% sure where they need to direct themselves. The subject of recent scandals, and relying heavily on foreign investment from Qatar and the UAE, this is a critical juncture for them to define that position.
Restructuring is the probably the right first step - and they are going to have to endure some heavy losses while they weather those changes. If so, and if they can resolve the scandals, maybe they can "go with what they know," as Lohr writes.