Adolfo Aponte comments on the news that Barclays Bank plans to leave its £32bn scheme attached to its investment banking arm

Adolfo Aponte, Director, Lincoln Pensions, commented in IPE on the news that Barclays Bank plans to leave its £32bn scheme attached to its investment banking arm, effectively extracting its core retail banking unit from the employer covenant.

The move follows legislation passed in the wake of the financial crisis that requires banks to split – ‘ring-fence’ – their retail businesses from their investment banking activities.

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