Barclays reshuffles with the times
(5 November 2009 – UK) Barclays has announced that it will be promoting ‘new talent’ to its most senior executive level in a bid to deliver strongly in the evolving financial services industry.
As part of a restructure, the leaders of a number of Barclays business units, and control and governance functions, will be joining the executive directors of the bank on the executive committee.
The group also currently chaired by John Varley, CEO, and comprises of Robert E Diamond Jr, group president and Chris Lucas, group finance director.
A number of new business groups are to be developed as part of the restructure.
The first group, which will be called Global Retail Banking (GBR), will comprise of the UK Retail Banking, Barclaycard and the former GRCB Western Europe and Emerging Markets businesses, will be led by Anthony Jenkins, whom is currently CEO of Barclaycard.
The second group to be developed is to be called Corporate and Investment Banking (CIB) and Wealth Management and will contain Barclays Capital, Barclays Commercial Bank and Barclays Wealth and will be led by, group president, Robert E Diamond Jr.
As part of the Corporate and Investment bank, reporting to Mr Diamond, Jerry del Missier and Rich Ricci will be co-chief executives and Tom Kalaris, chief executive of Barclays Wealth, will continue to lead the Wealth Management Business.
As a result of the above changes, Antony Jenkins, Maria Ramos, Jerry del Missier, Rich Ricci, and Tom Kalaris will join the group executive committee.
John Varley, group chief executive, Barclays, said that the structure and promotions the bank is announcing are designed to position Barclays strongly in an industry that is experiencing rapid change.
At the company’s heart is developing its capabilities to benefit the customers and clients of Barclays within a strong governance framework which is well attuned to the events of the last two years, Mr Varley added.
The group also currently chaired by John Varley, CEO, and comprises of Robert E Diamond Jr, group president and Chris Lucas, group finance director.
A number of new business groups are to be developed as part of the restructure.
The first group, which will be called Global Retail Banking (GBR), will comprise of the UK Retail Banking, Barclaycard and the former GRCB Western Europe and Emerging Markets businesses, will be led by Anthony Jenkins, whom is currently CEO of Barclaycard.
The second group to be developed is to be called Corporate and Investment Banking (CIB) and Wealth Management and will contain Barclays Capital, Barclays Commercial Bank and Barclays Wealth and will be led by, group president, Robert E Diamond Jr.
As part of the Corporate and Investment bank, reporting to Mr Diamond, Jerry del Missier and Rich Ricci will be co-chief executives and Tom Kalaris, chief executive of Barclays Wealth, will continue to lead the Wealth Management Business.
As a result of the above changes, Antony Jenkins, Maria Ramos, Jerry del Missier, Rich Ricci, and Tom Kalaris will join the group executive committee.
John Varley, group chief executive, Barclays, said that the structure and promotions the bank is announcing are designed to position Barclays strongly in an industry that is experiencing rapid change.
At the company’s heart is developing its capabilities to benefit the customers and clients of Barclays within a strong governance framework which is well attuned to the events of the last two years, Mr Varley added.
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