Barclays plc
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Barclays plc is a British multinational banking and financial services company headquartered in London, United Kingdom. It has operations in over 50 countries and territories across Australia, Africa, Asia, Europe, North America and South America and around 48 million customers.
It is the third largest of any bank worldwide (after HSBC and J.P. Morgan Chase). Founded in 1690, it is the 6th oldest bank in the world still in existence.
Barclays is a universal bank and is organized within two business 'clusters': Corporate and Investment Banking, Wealth and Investment Management; and Retail and Business Banking. The Corporate and Investment Banking, Wealth and Investment Management cluster comprises three business units: Corporate banking; Investment banking; and Wealth and investment management. The Retail and Business Banking cluster comprises four business units: Africa Retail and Business Banking; Barclaycard (credit card and loan provision); Europe Retail and Business Banking; and UK Retail and Business Banking.
Barclays has a primary listing on the London Stock Exchange. It has a secondary listing on the New York Stock Exchange.
Barclays traces its origins back to 1690 when John Freame and Thomas Gould started trading as goldsmith bankers in Lombard Street, London. The name "Barclays" became associated with the business in 1736, when James Barclay, the son-in-law of John Freame, one of the founders, became a partner in the business.
In 1965, Barclays established a US affiliate, Barclays Bank of California in San Francisco.
Barclays launched the first credit card in the UK, Barclaycard, in 1966. On 27 June 1967, Barclays deployed the world's first cash machine, in Enfield, north London.
In 1980, Barclays Bank International expanded its business to include commercial credit and took over American Credit Corporation, renaming it Barclays American Corporation.
Barclays introduced the Connect card in June 1987, the first debit card in the United Kingdom. The Connect brand is still being used on their debit cards today.
In 1988, Barclays sold Barclays Bank of California, which at that time was the 17th-largest bank in California measured by assets, to Wells Fargo for US$125 million in cash.
In 2008, Barclays bought the credit card brand Goldfish for US$70 million gaining 1.7 million customers, and US$3.9 billion in receivables Barclays also bought a controlling stake in the Russian retail bank Expobank for US$745 million. Later in the year Barclays commenced its Pakistan operations with initial funding of US$100 million
On 16 September 2008, Barclays announced its agreement to purchase, subject to regulatory approval, the investment-banking and trading divisions of Lehman Brothers, a United States financial conglomerate that had filed for bankruptcy. In the deal, Barclays also acquired the New York headquarters building of Lehman Brothers.
In March 2012, the trading names of Barclays Capital, Barclays Wealth and Barclays Corporate were each changed to simply "Barclays", as part of an effort to simplify the operations of the company and to promote greater integration between its divisions.
Barclays nevertheless ranks only third in the UK among the mainstream clearing banks in terms of the number of its branches.
The Chairman is Sir David Walker, the Group Chairman, who joined the Board on 1 September 2012 and became Chairman from 1 November 2012. The Chief Executive is Antony Jenkins, who had been a member of the executive committee since 2009 and comes from the retail side of the business
Executive Committee
The current members of Barclays' Executive Committee are:
· Antony Jenkins (Group Chief Executive, Barclays plc)
· Shaygan Kheradpir (Group Operations and Technology Officer, Barclays plc)
· Chris Lucas (Group Finance Director, Barclays plc);
· Ashok Vaswani (Group Executive Chief, Retail and Business Banking);
· Rich Ricci (Chief Executive, Barclays Corporate & Investment Banking);
· Valerie Soranno Keating (CEO Barclaycard, Barclays plc
· Tom Kalaris (Chief Executive, Barclays Wealth Management);
· Maria Ramos (CEO, Absa);
· Mark Harding (Group General Counsel, Barclays plc
· Robert Le Blanc (Chief Risk Officer, Barclays plc
· Sir Hector Sants (Head of Compliance and Government and Regulatory Relations)
Board of Directors
The current members of Barclays' Board of Directors are:
· Sir David Walker (Group Chairman)
· Antony Jenkins (Group Chief Executive);
· David Booth (Non Executive Director);
· Tim Breedon (Non Executive Director);
· Chris Lucas (Group Finance Director, Barclays plc
· Fulvio Conti (Non Executive Director);
· Simon Fraser (Non Executive Director);
· Dambisa Moyo (Non Executive Director);
· Reuben Jeffery III (Non Executive Director);
· Sir Michael Rake (Deputy Chairman and Senior Independent Director);
· Sir Andrew Likierman (Non Executive Director);
· Sir John Sunderland (Non Executive Director).
Barclays has sponsored the Premier League since 2001 (from 2001 to 2004 under the Barclaycard brand) and, from 2006, the Churchill Cup. Barclays also sponsored The Football League from 1987 until 1993, succeeding Today newspaper and being replaced by Endsleigh Insurance. It also sponsored the 2008 Dubai Tennis Championships.[73] In 2009 it became the official sponsor of the ATP World Tour Finals.
Barclays Investment Bank (trading as Barclays, formerly Barclays Capital) is a British multinational investment bank headquartered in London, United Kingdom and a division of Barclays PLC. It provides financing and risk management services to large companies, institutions and government clients. It is a primary dealer in U.S. Treasury securities and various European Government bonds.
Barclays Investment Bank has offices in over 29 countries and since the acquisition of Lehman Brothers' main U.S. division in September 2008, employs over 20,000 people, over 7,000 people work in the IT division.[2] This has significantly increased Barclays Capital's presence in North America.
In mid-March 2012, the trading name of Barclays Capital was changed to simply 'Barclays', and the name of the division was changed to 'Barclays Investment Bank'.