Barclays just had a rough third quarter—and suggested big changes are imminent.
The British banking giant said Tuesday that profit fell 16% in the three months through September, compared with a year earlier. That reflected persistent weakness in investment banking and competitive pressures in retail banking.
Quarterly profit attributable to ordinary shareholders fell to £1.27 billion, equivalent to about $1.56 billion.
Analysts had expected a profit of £1.13 billion, according to a Barclays poll.