– UK, London – Barclays PLC and Barclays Bank PLC (LSE:BARC), announce that Sir Ian Cheshire has been appointed as a non-executive Director of Barclays with effect from 3 April 2017. He is also appointed Chairman designate of Barclays’ ring-fenced bank, Barclays UK, which is in the process of being established. Barclays UK comprises the UK retail banking, business banking, consumer credit card and wealth management businesses.
Sir Ian Cheshire has been chairman of Debenhams plc since April 2016. He is currently the Senior Independent Director of Whitbread plc and chairman of the advisory board of the Cambridge Institute for Sustainability Leadership. He also holds directorships at Maisons du Monde SA and Menhaden Capital PLC. Sir Ian’s other appointments include working as the Government Lead Non-Executive, as well as being trustee of the Prince of Wales’s Charitable Foundation and of Business in the Community. Sir Ian retired as Group Chief Executive of Kingfisher plc in January 2015 after 7 years in the role and 17 years with the company. His other former roles include chairman of the British Retail Consortium.
Commenting, John McFarlane said, “I am delighted to welcome Sir Ian Cheshire to the Barclays Boards. He brings an excellent track record of success as both a chief executive and chairman and broad experience as a non-executive director. He will be a strong addition to the Barclays Boards. Identifying a chairman for Barclays UK is, of course, an important step on our journey to establish our UK ring-fenced bank and I welcome the opportunity to work closely with Sir Ian as we take Barclays forward in its new structure.”
Sir Ian Cheshire commented, “I am very much looking forward to joining the Barclays Boards and to supporting all our colleagues in Barclays UK as we establish the UK ring-fenced bank and continue to innovate and improve our service to our customers”
In relation to our non ring-fenced bank, in line with regulatory requirements, it is the intention to have an independent governance structure in place for Barclays Bank Plc when the ring-fenced bank is constituted. In the interim, Sir Gerry Grimstone will chair the divisional board of Barclays International and will lead the work to establish the new board of Barclays Bank plc, which will become the non ring-fenced bank in due course.
Barclays is a transatlantic consumer, corporate and investment bank offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in our two home markets of the UK and the US.
With over 325 years of history and expertise in banking, Barclays operates in over 40 countries and employs approximately 120,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.
For more information : http://www.home.barclays
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