Barclays CEO Jes Staley has detailed how his company has adjusted to the different banking regulations in the United States and believes that his peers in the sector need to get used to them.
"I think the Volcker rule is very clear, they want to move Wall Street from managing proprietary and trading desks to being agents and broker dealers for the broader capital markets," he told CNBC at the World Economic Forum in Davos.
"Barclays has gotten there very quickly, we are not in the proprietary trading business in our investment bank, we like the broker dealer model, we like the consistency of our revenues, we like the revenues versus risk that we have, which I think is where the regulators want us to be," he added.
He added that he believed that Dodd-Frank - which refers to a comprehensive and complicated piece of financial regulation born out of the recession of 2008 - is going to stay.
"I think Volcker is going to stay, and I think the banks need to operate on this," he said.