Antony Jenkins today revealed his blueprint for a simplified Barclays that will include a much-slimmed investment bank where 7,000 jobs – more than a quarter of the staff at the division – are to be shed by 2016.

The investment bank will remain a core part of the Barclays group, as Jenkins, group chief executive, had indicated at the bank's annual meeting on Tuesday, where he told shareholders the unit would be an "important part of the mix" in the group's future shape.