Bank CEO Says It's Time To Ramp Up Risk In Order To Meet Profit Goals

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Barclays CEO Bob Diamond is positioning his firm to take on more risk in order to meet profit goals, according to the Financial Times.

The reason for Barclays’ return to risk is the steep return on equity goals Diamond has set. He wants the firm to be making a return on equity of 13% by 2013, while it is only making around 7% now, according to the FT.

In order to increase its risk, Barclays is expected to engage in more credit acquisitions.

It was rumoured last week that Barclays was considering a move to the U.S. in order to escape some of the UK’s more stringent rules on the banking sector. How that move might help CEO Diamond meet his goals is unknown.

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