Barclays chief executive Jes Staley has defended his strategy to retain a full-service bank after a prominent activist investor took a significant stake in the lender, sparking questions over future strategy.

Staley has placed building a transatlantic investment bank at the core of Barclays' strategy. Speaking at the Morgan Stanley European Financials Conference on Tuesday, he reinforced this view and rejected the idea that breaking up Barclays would be beneficial for shareholders.