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Barclays CEO: will exceed 80 bln stg asset reduction plan

Wed, 30th Oct 2013 08:57

LONDON, Oct 30 (Reuters) - Barclays said it expectsto exceed its target of reducing assets by 80 billion pounds($128.5 billion) as part of a plan to improve its leverageratio, as demanded by its regulator.

"I can say with certainty that over time we will achievemore than the 65 to 80 billion (pound) reduction we committed toin July," said Chief Executive Anthony Jenkins, in reference toa plan to help it meet a 3 percent leverage ratio set by itsregulator.

Jenkins said new finance director Tushar Morzaria would leada new review of assets, and details will be announced inFebruary.

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