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Barclays Could Set Up 'bad Bank', Say Ubs


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http://www.telegraph.co.uk/finance/markets/marketreport/8251297/Barclays-could-set-up-bad-bank-say-UBS.html

Despite worries that Portugal could be in line for a €80bn (£66bn) handout – which was denied by the country's president – Barclays shrugged off those concerns to edge up 1.6 to 276.7p.

The rise came as UBS upgraded its stance on Barclays to "buy" from "neutral", arguing that new chief executive, Bob Diamond, could announce a restructuring of the bank at its full-year results on February 15.

Mr Diamond's elevation to chief executive from head of Barclays' corporate and investment banking arm, combined with the introduction of capital and liquidity rules, could provide the catalyst for the bank to restructure, the broker suggested.

Analysts said that such a move would shed low-return legacy assets and could see more than £10bn returned to investors by 2014.

So Barclays holds some big turds then?

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