Barclays plc

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Barclays plc
Type	Public (LSE: BARC, NYSE: BCS, TYO: 8642 )
Founded	1896
Headquarters	London, United Kingdom
Key people	Marcus Agius, Chairman John Varley, Chief Executive
Industry	Banking
Products	Banking Investment banking Investment management
Revenue	£22,170 million GBP (2006)
Operating income	£7,136 million GBP (2006)
Net income	£4,571 billion GBP (2006)
Employees	118,000 (2006)
Slogan	Now there's a thought
Website	www.barclays.com

Barclays PLC (LSE: BARC, NYSE: BCS, TYO: 8642 ) is a global financial services provider operating in the UK, Europe, United States, Middle East, Latin America, Australia, Asia and Africa. It is holding company that is listed in London and New York. It consists almost solely of Barclays Bank PLC.

Barclays PLC is the 4th largest in the world by Tier 1 capital ($32.5 billion), and the 28th largest in the world by Market capitalization ($71.6 billion).^{[citation needed]} It is the third largest bank in the United Kingdom based on assets.^[1]

The bank's headquarters are at One Churchill Place in Canary Wharf, in London's Docklands, having moved there in May 2005 from Lombard Street in the City of London. Barclays' U.S. headquarters are in New York on Park Avenue.

According to a March 20 joined press release[1][2], Barclays, is negotiating a merger with ABN AMRO, the largest bank in the Netherlands, which is under pressure from hedge funds to consider a merger or asset sales to bolster its lagging share price[3].

Contents 1 Barclays' history 2 Constituents of the Barclays Group 3 Key management 3.1 Board of Directors 3.2 Group Executive Committee 3.3 Other key figures 3.4 Operating units' executives 3.5 Organizational Structure 4 Branches 5 Sponsorships 6 Barclays' legal situation 7 See also 8 Notes 9 References 10 External links

[edit] Barclays' history

The bank traces its roots back to 1690 in London; the name "Barclays" became associated with the business in 1736.^[2]

Timeline

• 1896 — several banks in London and the English provinces unite under the banner of Barclays and Co
• 1905–1916 — acquisitions of small English banks extends the branch network
• 1918 — Barclays amalgamates with the London, Provincial and South Western Bank
• 1965 — Barclays establishes a US affiliate, Barclays Bank of California in San Francisco.
• 1966 — Barclaycard launched, the first credit card in the UK
• 1967 — Barclays unveils the first ATM cash machine
• 1969 — Acquisition of Martins Bank
• 1986 — Barclays sells its South African operations under the Barclays National Bank name due to protests against Barclays involvement in a country that was under apartheid at the time.
• 1986 — Buys de Zoete & Bevan and Wedd Durlacher to form BZW, to take advantage of Big Bang on the London Stock Exchange
• 1988 — Barclays sells Barclays Bank of California to Wells Fargo Bank, N.A.
• 1994 — Edgar Pearce, the "Mardi Gras Bomber" begins a terror campaign against the bank
• 1996 — buys Wells Fargo Nikko Investment Advisors (WFNIA) and merges it with BZW Investment Management to form Barclays Global Investors
• 1998 — BZW business broken up, parts sold to Credit Suisse First Boston. Retains debt business which forms the foundation of what is now Barclays Capital.
• 1999 — In an unusual move as part of the trend at the time for free ISPs Barclays launched an internet service called Barclays.net. This entity has since been taken over by British Telecom in 2001. [4]
• 2000 — acquisition of Woolwich Plc (formerly the Woolwich Building Society)
• 2001 — Barclays closes 171 branches in the UK, many of them in rural communities. Calls itself 'THE BIG BANK', this is quickly pushed under the carpet after a series of embarrassing PR stunts.
• 2003 — Barclays buys American credit card company Juniper Bank from CIBC, re-branding it as "Barclays Bank Delaware". Acquisition of Banco Zaragozano, the 11th Spanish bank.
• 2005 — Barclays seals £2.6bn takeover of Absa Group Limited, South Africa's largest retail bank, acquiring a 54% stake on July 27
• 2006 — Barclays purchases HomEq servicing corporation for $469 million in cash from Wachovia Corp.
• 2006 — Barclays announces plans to re-brand Woolwich branches as Barclays, migrating Woolwich customers onto Barclays accounts and migrating back-office processes onto Barclays systems. The Woolwich brand will be used for Barclays mortgages.
• 2007 — Barclays announced it purchased naming rights to the Barclays Center, a proposed 18,000-seat arena in Brooklyn, New York, where the New Jersey Nets plan to relocate.
• 2007 — Barclays agrees to purchase Equifirst Corporation from Regions Financial Corporation for $225 million.

[edit] Constituents of the Barclays Group

• Mercers Debt Collection Agency
• Barclays Bank Delaware (formerly Barclaycard US, originally Juniper Bank, acquired 2003)
• Barclays Retail Bank — UK clearing bank
• Barclays Business Bank — UK bank
• Barclays Wealth — Stockbrokers, Offshore and Private bank
• Barclays Private Clients International Ltd. — subsidiary based in the Isle of Man with branches in the Channel Islands
• Barclays Private Equity
• Barclaycard — Global credit card business
• Barclaycard US — Separate from the Barclaycard global operation, this is the corporation's US credit card operation (formerly known as "Juniper Bank.)" Issues branded credit cards such as US Airways, Midwest Airlines, and Frontier Airlines MasterCard, as well as Airtran Airways Visa card.
• Barclays Capital — Investment bank
• Barclays Global Investors — Investment management company
• Woolwich plc — UK mortgage brand
• Barclays Africa — To be transferred to ABSA (South Africa)
• Barclays Spain
• Barclays Portugal
• Barclays France
• Absa Group Limited (South Africa)
• FIRSTPLUS Financial Group PLC

[edit] Key management

[edit] Board of Directors

• Marcus Agius - Group Chairman
• Sir Nigel Rudd - Deputy Chairman
• Fulvio Conti - Non Executive Director
• Sir Richard Broadbent - Senior Independent Director
• Richard Leigh Clifford - Non Executive Director
• Professor Dame Sandra Dawson - Non Executive Director
• Sir Andrew Likierman - Non Executive Director
• Stephen Russell - Non Executive Director
• Sir John Sunderland - Non Executive Director
• Dr. Danje Cronje - Non Executive Director, Chairman of Absa

[edit] Group Executive Committee

• John Varley - Group Chief Executive (board member)
• Robert E. Diamond Jr - President & Head of Investment Banking (board member)
• Frits Seegers - Chief Executive Officer, Global Retail & Commercial Bank (board member)
• Paul Idzik - Group Chief Operating Officer
• Naguib Kheraj - Group Finance Director (board member)
• Chris Lucas - Group Finance Director-designate (assumes position April 1, 2007)

[edit] Other key figures

• Gary Hoffman - Group Vice Chairman (reporting to Group CEO)
• Dominic Trotter - Chief Information Officer (reporting to Group COO)
• Cathy Turner - Group Human Resources Director (reporting to Group COO)
• Stephen Whitehead - Director, Barclays Corporate Affairs (reporting to Group COO)
• Clare Losty - Executive Assistant to the Group Chief Executive (reporting to Group CEO)
• Mark Carawan - Barclays Internal Audit Director (reporting to group CEO)
• Mark Harding - General Counsel (reporting to Group Finance Director)
• Robert Le Blanc - Group Risk Director (reporting to Group Finance Director)
• Jon Stone - Group Treasurer (reporting to Group Finance Director)

[edit] Operating units' executives

• Grant Kvalheim and Jerry del Missier - Co-Presidents, Barclays Capital (reporting to Bob Diamond)
• Blake Grossman - Chief Executive Officer, Barclays Global Investors (reporting to Bob Diamond)
• Tom Kalaris - Chief Executive Officer, Barclays Wealth Management (reporting to Bob Diamond)
• Deanna Oppenheimer - Chief Executive Officer, UK Retail Banking (reporting to Frits Seegers)
• Christopher Grigg - Chief Executive Officer, UK Business Banking (reporting to Frits Seegers)
• Peter Harvey - Vice Chairman, UK Banking (reporting to Frits Seegers)
• Antony Jenkins - Chief Executive Officer, Barclaycard (reporting to Frits Seegers)
• Jacobo Gonzalez-Robatto - Chief Executive Officer, Iberia and Italy (reporting to Frits Seegers)
• Steve Booysen - Chief Executive, Asia and Sub-Saharan Africa (reporting to Frits Seegers)
• Leo Salom - Chief Executive, Western Europe (reporting to Frits Seegers)
• Ahmed Khizer Khan - Chief Executive, New Markets (reporting to Frits Seegers)

[edit] Organizational Structure

Barclays is headed by Marcus Agius, the Group Chairman, who joined the Board on September 1, 2006 and succeeded Matthew Barrett as Chairman from January 1, 2007. Mr. Agius is also the senior non-executive Director of the BBC and was formerly Chairman of Lazard in London and a Deputy Chairman of Lazard LLC until December 31, 2006.

Reporting directly to the Group Chairman is John Varley, the Group Chief Executive who is responsible for the strategic direction and planning of all Barclays operations. John was appointed to the role on September 1, 2004 prior to which he served as Deputy Chief Executive (January-September 2004) and Group Finance Director (2000-2003). John is assisted by Clare Losty, his Executive Secretary.

The day to day management of the Barclays group is conducted by the Group Chief Operating Officer, Paul Idzik. Since joining Barclays in 1999 he had served as Chief Operating Officer of Barclays Capital prior to assuming his current position in November 2004. His career with Booz Allen Hamilton prior to joining Barclays established him as one of the leading management consultants for finance.

Naguib Kheraj is approaching the end of his tenure as Group Finance Director. He has served in this capacity since January 1, 2004 and leaves his post on March 31, 2007. He has previously served as Chief Executive of Barclays Private Clients, Deputy Chairman of Barclays Global Investors, Global Head of Investment Banking and Global Chief Operating Officer at Barclays Capital. He will be replaced by Chris Lucas who joins Barclays on April 1, 2007 from Price Waterhouse Cooper where he has been UK Head of Financial Services and Global Head of Banking and Capital Markets.

Chris will assume responsibility for all of Naguib's current responsibilities including; Group Treasurer, Group Property Director, Company Secretary, Barclays Tax Director, the Office of the General Counsel and the Group Risk Director.

The operating units of Barclays are grouped under two umberellas; International Banking and Investment Banking (IB&IM) and Global Retail and Commercial Banking (GRCB). The former is headed by Robert E. Diamond, Jr. the President of Barclays PLC. The latter is headed by Chief Executive of GRCB, Frits Seegers.

IB&IM oversees three core operating units; Barclays Capital, Barclays Global Investors and Barclays Wealth Management.

GRCB oversees multiple operating units. Principally it has responsibility for UK Retail Banking (UKRB), UK Business Banking (UKBB), Barclaycard and International Retail and Commercial Banking (IR&CB).

The IR&CB function was previously headed by David Roberts, who has now departed Barclays, before falling under the larger umberella of GR&CB. The core units of IR&CB are Barclays operations in South Africa (Absa), Western Europe (including Spain, Portugal, Italy and France) and emerging markets (such as Sub Saharan Africa, India, Egypt, North Africa, UAE and the Gulf states).

UK Banking and Barclaycard were formerly directed by Gary Hoffman in his role as Chairman but his sideways move into the role of Group Vice Chairman, responsible for franchise health and corporate responsibility, has seen Deanna Oppenheimer, Christopher Grigg and Antony Jenkins appointed as operating unit Chief Executive Officers. Peter Harvey, formerly the Chief Executive for UK Business Banking has recently moved sideways into the role of UK Banking Vice Chairman and in this role he supports both Deanna and Christopher (as well as Frits Seegers) in the implementation of the overall UK banking strategy.

[edit] Branches

Barclays has many UK high street branches. Barclays has also joined up with the Post Office Ltd to provide personal banking services to customers who live near a Post Office branch.

Most Barclays branches have 24/7 ATM machines, colloquially known as Holes in the Wall. Barclays customers and customers of many other banks can use Barclays ATMs free of charge.

[edit] Sponsorships

From 2004 onwards, Barclays has sponsored the FA Premier League and, from 2006, the Churchill Cup.

[edit] Barclays' legal situation

Currently, a South African activist group, the Jubilee South Africa backed Khulumani Support Group, is seeking reparations from Barclays in addition to Citigroup, BP, Shell, Ford, GM, and Deutsche Bank for their roles indirectly supporting the apartheid government in South Africa during the 1970s and 1980s. The legal proceedings are being heard at the Second District Court of Appeals in New York, and the South African Ministry of Justice is seeking dismissal of the case on the grounds that it undermines its sovereignty.^[3]

[edit] See also

• European Financial Services Roundtable

[edit] Notes

[edit] References

• Top 1000 World Banks 2006. The Banker. Retrieved on 2006-09-03.

• Barry's Newsroom. Barkleys. Retrieved on 2007-01-27.

[edit] External links

• Barclays' corporate website.

• Barclays' UK careers website.

• Barclays' UK graduate careers website.

• Profile for Barclays PLC (BCS). Yahoo! Finance. Retrieved on 2007-01-30.

• Barclays Bank PLC Company Profile. Yahoo! Finance.

• Barclays Bank PLC stock quote & chart. Gstock.

• Barclays (June 28, 2006). Barclays puts Woolwich at heart of UK retail revitalisation. Press release.

http://www.springbokradio.com/ADSBARCLAYS.html (South African 1982 Radio Commercial)