London, Dec 31: Barclays’ chief executive Antony Jenkins has said that it may take a decade to win public trust after the bank’s reputation was damaged following two scandals, media reported Tuesday.
Barclays was the first bank to be implicated in the Libor scandal, in which traders rigged the London inter-banking rate, leading to a 290 million pound fine in June 2012, and the bank was also involved in the PPI mis-selling scandal, The Independent reported.
“Trust is a very easy thing to lose, and a very hard thing to win back. In my view it will takes several years — probably five to 10 — to rebuild trust in Barclays,” he was quoted as saying in a BBC Radio 4 programme, which he guest edited Tuesday.
Jenkins made the comments while addressing students at Brooke House Sixth Form College in Clapton, London.
Jenkins vowed to restore Barclay’s reputation after he was appointed chief executive in August 2012, replacing Bob Diamond who was forced to step down. In February this year, he revealed a plan to overhaul the bank.