watch
Barclays Plc

Barclays Plc

Sector: National Commercial Banks Region: United Kingdom


: | Frankfurt Stock Exchange: BCY | OTC Markets: BCLYF | London Stock Exchange: BARC


Barclays Plc is a global financial services provider. The company is engaged in the provision of retail banking, credit cards, corporate and investment banking and wealth management with an international presence in Europe, the Americas, Africa and Asia. Barclays operates through two groups: Retail and Business Banking, and Corporate and Investment Banking and Wealth Management. The Barclays Retail and Business Banking group comprises of four business units: UK Retail Banking, Barclaycard, Barclays Africa and Western Europe Retail Banking. UK Retail Banking is a retail bank which serves UK customers through contact centers, online banking and various branches. It provides a wide range of products and financial services to its customers. Through UK Retail Banking, customers have access to current account and savings products, Woolwich-branded mortgages, unsecured loan and protection products and general insurance. Barclaycard is a multi-brand credit card and consumer lending business which also processes card payments for retailers and merchants, and issues credit and charge cards to corporate customers and the UK government. In the UK, Barclaycard comprises of Barclaycard UK Cards, Barclaycard Partnerships, Barclays Partner Finance and Firstplus. Outside the UK, Barclaycard provides credit cards in the United States, Germany, South Africa and in the Nordic region. Western Europe Retail Banking includes retail banking and Barclaycard operations in Spain, Italy, France and Portugal. Barclays Africa encompasses Barclays Global Retail Banking, Corporate Banking, and Barclaycard operations in 10 countries organized in four geographic areas: North Africa (Egypt), East and West Africa (Ghana, Tanzania, Uganda and Kenya), Southern Africa (Botswana, Zambia and Zimbabwe), and the Indian Ocean (Mauritius and Seychelles). It provides a variety of traditional financial products, including retail mortgages, current and deposit accounts, commercial lending, unsecured lending, credit cards, treasury and investments. In addition, it provides specialist services such as Sharia-compliant products and mobile banking. The Barclays Corporate & Investment Banking and Wealth Management Cluster comprises of three business units: Barclays Capital, Barclays Corporate and Barclays Wealth. Barclays Capital is the investment banking division of Barclays. It provides large corporate, government and institutional clients with a comprehensive set of solutions for their strategic advisory, financing and risk management needs. Barclays Corporate provides banking solutions to organizations. Barclays industry sector specialists offer advice on banking products, support, expertise and services, and customers are offered access to other areas of the Barclays Group which might help meet their investment or business needs, such as Barclaycard, Barclays Wealth and Barclays Capital. Barclays Wealth is a global wealth manager. It focuses on private and intermediary clients worldwide, providing international and private banking, investment management, fiduciary services and brokerage. The company was founded on July 20, 1896 and is headquartered in London, the United Kingdom.

Executives

Sir David Walker, Chairman
Sir David joined the Board as a non-executive Director on 1 September 2012 and became Chairman on 1 November 2012. Sir David began his career in 1961 with Her Majesty’s Treasury, where, with a period on secondment to the International Monetary Fund in Washington (1969-1973), he served until 1977. From 1977-1993, Sir David held several key positions at the Bank of England where, in 1981, he became one of four Executive Directors of the Bank. From 1988-1992 he was Chairman of the Securities & Investment Board and, ex officio, a nominated member of the Council of Lloyd’s over the same period. He was a non-executive member of the Court of the Bank of England from 1988-1993. Sir David was a non-executive board member of the former CEGB and subsequently of National Power plc between 1984 and 1994. He was formerly Chairman of Reuters Venture Capital, Vice-Chairman of the Legal and General Group and was Chairman of the London Investment Bankers’ Association for 4 years until June 2004. Sir David joined Morgan Stanley in 1994, where he was Chairman and CEO, Morgan Stanley International, and subsequently Chairman. At the end of 2005, he retired as Chairman but remained a Senior Advisor until the end of August 2012. Sir David has been a member of the Group of Thirty (G30) since 1993: he is a trustee of the Group and was Treasurer from 1997-2004. He is also a trustee of the Cicely Saunders Foundation and was Chairman of the Business Leaders’ Group of the East End charity Community Links from 1995-2011. Since 2007 Sir David has completed two reports and made recommendations in respect of the private equity industry and corporate governance at financial institutions. He also co-led the independent review of the report that the FSA produced into the failure of Royal Bank of Scotland and was a member of the four-person Committee chaired by Lord Woolf (former Lord Chief Justice) into ethical business conduct in BAE Systems plc, which reported in May 2008. Sir David is Chairman of the Board Corporate Governance & Nominations Committee, the Board Conduct, Reputation and Operational Risk Committee and the Board Enterprise Wide Risk Committee, and a member of the Board Remuneration Committee.
Antony Jenkins, Chief Executive
Antony is Chief Executive of Barclays. Antony was Chief Executive of Retail and Business Banking and joined the Barclays Executive Committee in November 2009. Prior to that he had been Chief Executive of Barclaycard since January 2006 where he led a revival in the fortunes of the business. Antony is the executive responsible for Diversity and Inclusion at Barclays and in February 2009, he additionally became a Barclays appointed non-executive director of Absa, the South African banking group. Since October 2008, Antony has been on the Board of Visa Europe Ltd. Barclays is where Antony started his career in finance back in 1983, when he completed the Barclays Management Development Programme before going on to hold various roles in retail and corporate banking. He moved to Citigroup in 1989, working in both London and New York. Antony is married and a father of two children.
Chris Lucas, Group Finance Director
Chris joined the Board on 1 April 2007. Chris came from professional services company PricewaterhouseCoopers LLP, where he was UK Head of Financial Services and Global Head of Banking and Capital Markets.
He was Global Relationship Partner for Barclays for the 1999–2004 financial years and subsequently held similar roles for other global financial services organisations.
Chris has worked across financial services for most of his career, including three years in New York as Head of the US Banking Audit Practice of PricewaterhouseCoopers LLP.
David Booth, Non-Executive Director
David manages his own venture capital investments, having retired from the Management Committee of Morgan Stanley in 1997. David was employed by Morgan Stanley from 1982 to 1992, and again from 1995 to 1997. He held various key positions there, including Head of Government Bond Trading, Head of Mortgage Trading, Sales and Finance and Head of Global Operations and Technology.
David is Chairman of the Board Risk Committee and a member of Board Corporate Governance and Nominations Committee.
Tim Breedon CBE, Non-Executive Director
Tim was appointed to the Board as a non-executive Director with effect from 1 November 2012. Tim was Group Chief Executive of Legal & General Group plc (L&G), until June 2012. Tim joined L&G in 1987, holding a number of roles before joining the board as Group Director (Investments) in 2002 and becoming Group Chief Executive in 2006. He remained an adviser to L&G, primarily with responsibilities in connection with Solvency II, until 31 December 2012. Tim served as Chairman of the Association of British Insurers (ABI) between July 2010 and July 2012, having been a Director since 2007. He was also Chairman of the UK Government’s non-bank lending taskforce, an industry-led taskforce that looked at the structural and behavioural barriers to the development of alternative debt markets in the UK, reporting its conclusions and recommendations in March 2012. Tim was a Director of the Financial Reporting Council from 2004-2007. He also served as a Director on the Board of the Investment Management Association between 2004 and 2005. He was appointed as a non-executive Director at the Ministry of Justice in December 2012. Tim is a member of the Board Financial Risk Committee, the Board Remuneration Committee, the Board Conduct, Reputation and Operational Risk Committee and the Board Audit Committee.
Fulvio Conti, Non-Executive Director
Fulvio is currently Chief Executive Officer and General Manager of Enel SpA, the Italian energy group, where he was previously Chief Financial Officer from 1999-2005. Fulvio has held a number of high-level financial roles, including Chief Financial Officer and General Manager of Telecom Italia and General Manager and Chief Financial Officer of Ferrovie dello Stato. He was also head of the accounting, finance, and control department of Montecatini and was in charge of finance at Montedison-Compart. He has held positions in finance and operations in various affiliates of Mobil Oil Corporation in Italy and Europe.
Fulvio has been a member of the Board Audit Committee since September 2006.
Simon Fraser, Non-Executive Director
Simon has extensive experience of the institutional fund management industry, having worked at Fidelity International from 1981 to 2008, latterly as President of the Investment Solutions Group and President of the Retirement Institute. Simon held a number of positions during his career at Fidelity International, including President, European & UK Institutional Business, Global Chief Investment Officer, Chief Investment Officer for Asia Pacific and Chief Investment Officer of the European Investment Group. Simon remains a director of Fidelity European Values PLC and Fidelity Japanese Values PLC.
Simon is a member of the Board Audit Committee and the Board Remuneration Committee.
Reuben Jeffery III, Non-Executive Director
Reuben is a Senior Adviser at the Center for Strategic & International Studies in Washington, D.C. and previously served in the US government as Under Secretary of State for Economic, Energy and Agricultural Affairs (2007- 2009). Prior to joining the Department of State, Reuben was the Chairman of the Commodity Futures Trading Commission and before that held a number of positions in US government service. He spent eighteen years at Goldman, Sachs & Co. between 1983-2001 where he was managing partner of Goldman Sachs in Paris and led the firm’s European Financial Institutions Group in London.
Reuben is a member of the Board Risk Committee.
Dambisa Moyo, Non-Executive Director
Dambisa joined the Board in May 2010 as a non-executive Director. She is an international economist and commentator on the global economy, with a background in financial services. Dambisa worked for the World Bank from 1993 to 1995. After completing a PhD in Economics, she worked for Goldman Sachs for eight years until November 2008 in the debt capital markets, hedge funds coverage and global macroeconomics teams. Dambisa is a non-executive director on the Boards of SABMiller PLC and Barrick Gold Corporation. She was a non-executive Director of Lundin Petroleum AB until May 2012. Dambisa is a member of the Board Financial Risk Committee and the Board Conduct, Reputation and Operational Risk Committee.
Sir Michael Rake, Senior Independent Director
Sir Michael is currently Chairman of BT Group PLC, Chairman of the UK Commission for Employment and Skills and Chairman of easyJet PLC. Sir Michael previously worked at KPMG from 1974-2007 where he spent a number of years in Continental Europe and the Middle East. He was Senior Partner of the UK firm from 1998-2000 and Chairman of KPMG International from 2002-2007.
Sir Michael is Chairman of the Board Audit Committee and a member of both the Board Risk Committee and the Board Corporate Governance and Nominations Committee.
Diane de Saint Victor, Non-Executive Director
Diane was appointed as a non-executive Director with effect from 1 March 2013. She is currently General Counsel and Company Secretary and a member of the Group Executive Committee of ABB Limited, the publicly listed international power and automation technologies company based in Switzerland, where her responsibilities include Head of Legal and Integrity Group. She was formerly Senior Vice President and General Counsel of EADS, the European aerospace and defence company. Diane is a member of the Board Conduct, Reputation and Operational Risk Committee.
Sir John Sunderland, Non-Executive Director
Sir John joined the Board as a non-executive Director in June 2005. He has extensive business and Board level experience having spent forty years with Cadbury Schweppes PLC, where he became Chief Executive in 1996 and Chairman in 2003. Sir John has significant experience as a director of UK listed companies, and has also held a number of similar positions in trade and professional bodies, including the Confederation of British Industry and the Chartered Management Institute. Sir John is Chairman of Merlin Entertainments Limited since 2009; Adviser to CVC Capital Partners; Association Member of BUPA; Governor of Reading University Council; Chancellor of Aston University; and a non-executive Director of AFC Energy plc. He was Director of the Financial Reporting Council (2004-2011); Deputy President of the Chartered Management Institute until 2009 (President 2007-2008) and Deputy President of the CBI until 2008 (former member and President). Sir John is Chairman of the Board Remuneration Committee and is a member of the Board Corporate Governance and Nominations Committee, the Board Conduct, Reputation and Operational Risk Committee, and the Board Enterprise Wide Risk Committee.

News & Analysis