OpRisk Europe: Ring-fencing move will pose operational risks
The move to ring-fence UK retail banking operations will pose operational risks, Barclays’ group operational risk director tells conference
The move to separate the UK retail banking operations from investment banking operations will create the potential for operational risk, according to John Whittaker, group operational risk director at Barclays Group.
The recommendation was made last September by the Independent Commission on Banking – a group set up by UK chancellor of the exchequer George Osborne to propose ways of improving the stability of the UK banking system and chaired by John Vickers. It suggested that retail banking
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