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Barclays CEO: will exceed 80 billion pound asset reduction plan

Reuters

LONDON (Reuters) - Barclays said it expects to exceed its target of reducing assets by 80 billion pounds as part of a plan to improve its leverage ratio, as demanded by its regulator.

"I can say with certainty that over time we will achieve more than the 65 to 80 billion (pound) reduction we committed to in July," said Chief Executive Anthony Jenkins, in reference to a plan to help it meet a 3 percent leverage ratio set by its regulator.

Jenkins said new finance director Tushar Morzaria would lead a new review of assets, and details will be announced in February.

(Reporting by Steve Slater; Editing by Matt Scuffham)