February 12, 2013 / 11:05 AM / 5 years ago

Barclays to close four units, place others under review

LONDON (Reuters) - Barclays will close 4 units and has placed the futures of 17 more under review as part of an overhaul of the bank aimed at transforming its culture, Chief Executive Antony Jenkins told reporters on Tuesday.

Jenkins said the bank had closed its structured capital markets division, which sets up complex tax arrangements for wealthy individuals and companies and has attracted criticism from lawmakers.

He also said Barclays had stopped trading of soft commodities “for speculative purposes”.

Reporting by Matt Scuffham

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