The high-end firms and corporate counsel who rely on slices of Barclays’ £100m annual legal spend will be poring over the bank’s strategic review, published last week. Obiter’s message is: put down the 103-page report, cast your eyes away from the PowerPoint graphs and read the code with us.
Specifically, as the bystander says at the start of Pygmalion, ‘I tell you, look at his boots!’. No dangerous, fiddly, trip-me-up laces for new chief executive Antony Jenkins (pictured), neither for him the ‘trust me, I wear slip-ons’ messaging of his predecessor.
No, these are the sturdy unshiftable buckles of a man who didn’t just create a single global compliance function, axe activities in two continents, and tell people who don’t share his values to get out. They are the buckles of a man who means it.
Worth remembering in the run-up to the law firm panel review. Don’t say you weren’t warned about what footwear to sport for that client pitch.