– UK, London – arclays PLC (LSE:BARC), is required under the UK’s ring-fencing legislation, to create a new bank, Barclays Bank UK PLC, and to transfer to it the UK retail and small business operations of Barclays Bank PLC, currently the entity through which the group’s principal activities are carried on. To align with the post-ring fencing structure of the group, Barclays is proposing to reorganise the boards and management structures of its main operating companies. The proposed changes will take effect on or about 1 April 2018, at the same time as the ring-fenced structure comes into effect. Barclays Bank PLC will own the Group’s corporate and investment bank and international private banking and non-UK cards businesses, Barclays Bank UK PLC will be the ring-fenced bank, and Barclays PLC will remain the listed parent company. Barclays Services Limited will provide services to all three companies.
The following key board changes are proposed to take effect on or about 1 April 2018:
Barclays is a transatlantic consumer and wholesale 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 80,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.
For more information : http://www.home.barclays
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