Daily News: April 8, 2013

Barclays Report Faults Growth, Bonuses for Bad Decisions

Bloomberg reported, according to a “massive” independent review published by the bank, that Barclays grew too quickly, paid bankers too much, and failed to cultivate a cohesive culture in recent years.

Bloomberg said that despite some attempts to establish group-wide values, the culture that emerged tended to favor transactions over relationships, the short term over sustainability, and financial over other business purposes.

To read the entire Bloomberg story, click here.