On Wednesday at the Treasury Select Committee Mr. Hester admitted to the possibly of dumping their global banking and markets business.
“It is clear that one of the impacts of the proposals will be to shrink the scale of the domestically-owned investment banks,” said Mr Hester. “One suggestion was that we go out and raise more capital. I would be interested to see the investor who wants to put more capital towards UK banks at the moment. They are thinking it is a dumb place to put more capital,” he said.