It can't just be about the money, because frankly the money isn't going to be there the way it was before 2008." Former Barclays chief executive, Antony Jenkins , has said that 700 of all banking jobs and branches could be gone within the next 10 years , due to the impact of smaller competitors entering financial services; at Barclays alone, that would result in a loss of 66,000 UK branches, and half jobs globally. He said that the big banks will struggle to keep up with the pace of technological change, which is being driven by new entrants to the market. The impact of these changes will also mean an end to the high pay that bankers currently receive. He described the precarious state of the UK banking system, in light of these imminent changes, as being close to its "Uber moment".
Former Barclays chief executive, Antony Jenkins , has said that 700 of all banking jobs and branches could be gone within the next 10 years , due to the impact of smaller competitors entering financial services; at Barclays alone, that would result in a loss of 66,000 UK branches, and half jobs globally. He said that the big banks will struggle to keep up with the pace of technological change, which is being driven by new entrants to the market. The impact of these changes will also mean an end to the high pay that bankers currently receive. He described the precarious state of the UK banking system, in light of these imminent changes, as being close to its "Uber moment".