20 February
2024
Barclays PLC
("Barclays")
New operating divisions and
management
Barclays has today announced that it will be
managed and reported via five focused operating
divisions:
·
Barclays UK;
·
Barclays UK Corporate Bank;
·
Barclays Private Bank and Wealth Management;
·
Barclays Investment Bank; and
·
Barclays US Consumer Bank.
Barclays segmental reporting will reflect these
five operating divisions, in addition to Head Office, from the
first quarter of 2024.
Barclays has also today published a
resegmentation document which provides details of the impact on the
Group's financial reporting as a result of such resegmentation, and
re-presents segmental results for 2023 (full year and quarterly),
2022 (full year and quarterly), and 2021.
These changes do not affect legal entities nor
do they impact the Group's consolidated financials.
The resegmentation document may be accessed via
the Barclays website at
https://home.barclays/investor-relations/reports-and-events/financial-results/.
The operating divisions will be led as follows
(subject to regulatory approval in respect of new appointments, as
appropriate):
-
|
Vim Maru appointed CEO of Barclays
UK;
|
-
|
Matt Hammerstein appointed CEO of Barclays UK
Corporate Bank. In addition to his leadership of UK Corporate Bank,
Matt Hammerstein will replace Sasha Wiggins as the head of Public
Policy and Corporate Responsibility;
|
-
|
Sasha Wiggins appointed CEO of
Barclays Private Bank & Wealth Management; and
|
-
|
Denny Nealon will continue in his
current role as CEO of Barclays US Consumer Bank and Barclays Bank
Delaware.
|
The Investment Bank operating division will be
co-led as follows (also subject to regulatory approval in respect
of new appointments, as appropriate):
-
|
Adeel Khan appointed sole head of Global
Markets;
|
-
|
Cathal Deasy and Taylor Wright will continue in
their current roles as Co-Heads of Banking; and
|
-
|
Stephen Dainton appointed President of Barclays
Bank PLC and Head of Investment Bank Management.
|
Each of the divisional and business heads above
will be members of Barclays Group Executive Committee, and will
report to the Group Chief Executive, C.S. Venkatakrishnan. Details
of the full composition of this Committee can be found at
https://home.barclays/who-we-are/structure-and-leadership/leadership
Paul Compton will step back from his role as
the Global Head of the CIB and President of Barclays Bank PLC and
become the Chairman of Investment Banking, also reporting to the
Group Chief Executive in this capacity.
Notes
1.
|
In addition to his reporting line to the Group
Chief Executive, C.S. Venkatakrishnan, Denny Nealon will continue
to report Richard Haworth, CEO Americas.
|
- ENDS -
For further information, please
contact:
Investor Relations
|
Media Relations
|
|
|
Marina Shchukina
|
Jonathan Tracey
|
+44 (0) 20 7116 2526
|
+44 (0) 20 7116 4755
|
About
Barclays
Barclays is a British universal bank. We
are diversified by business, by different types of customer and
client, and geography. Our businesses include consumer
banking and payments operations around the world, as well as a
top-tier, full service, global corporate and investment bank, all
of which are supported by our service company which provides
technology, operations and functional services across the
Group.
For further information about Barclays, please
visit our website home.barclays