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Barclays Granted Australian Licence

Barclays Granted Australian Licence

(22 December 2021 – Australia) London headquartered Barclays has been granted a foreign banking licence to operate in Australia with a Sydney branch set to open in April 2022.

The Australian Prudential Regulation Authority (APRA) has granted Barclays Bank a licence to operate as a foreign authorised deposit-taking institution (ADI) in Australia.

One of the United Kingdom’s largest financial institutions, Barclays re-established its Australia office in 2018 and has been providing global financing solutions to local clients as a corporate and investment bank in Asia Pacific. The Sydney branch is viewed as a key tenet for expanding the group’s client base and enabling it to deliver more to its Australian corporate and institutional banking (CIB) clients. Richard Satchwell will lead the Australian arm as country CEO and head of investment banking, Australia.

“Australia presents tremendous growth opportunities and is an important financial services market in the region. This foreign ADI license reinforces our commitment to Australia and enables us to proactively serve our clients with our global Corporate & Investment Bank platform, supporting their cross-border growth ambitions even further” stated Barclays Head of Asia Pacific, Jaideep Khanna.

“The ADI license granted to Barclays is an important step in demonstrating to clients our commitment to the Australian financial market. Barclays has built momentum steadily in our business over the past few years. We announced our strategic investment in Barrenjoey Capital Partners in September 2020, and are already seeing results of the investment with a strong pipeline of transactions one year on” commented Mr Satchwell.

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