Barclays PLC
From MarketsWiki
| Barclays Plc | |
| |
| Founded | 1690 |
|---|---|
| Headquarters | London; operates in over 50 countries |
| Key People | Marcus Agius, Group Chairman of the Board; Robert E. Diamond Jr., President, CEO Investment Banking and Investment Management |
| Employees | Around 147,000 people |
| Web site | www.barclays.com |
Barclays Plc is a global financial services provider engaged in retail and commercial banking, credit cards, investment banking, wealth management and investment management services. The company, along with its subsidiaries, operates through six business segments: UK Banking, Barclaycard, International Retail and Commercial Banking, Barclays Capital, Barclays Global Investors and Barclays Wealth. The bank, like so many others, announced thousands of job cuts as a result of the U.S. credit crisis from 2008 to 2009.
On March 3, 2008, Barclays entered into an agreement with Petropavlovsk Finance (Limited Liability Society) to acquire 100 percent of the Russian bank, Expobank.
In April 2008, Barclays Capital acquired the assets of PowerLytix LLC, a provider of market data analysis. In July 2008, Barclays PLC completed the acquisition of 100 percent of Expobank, a Russian retail and commercial bank. Expobank became part of Barclays Global Retail and Commercial Banking Emerging Markets business. In August 2008, Barclays PLC started operations in Pakistan.
In September of 2008, Barclays said it may pick up some of Lehman Brothers Holdings Inc.'s assets and employees in Europe and Asia, on top of the British bank's deal to acquire key U.S. operations from the investment bank after Lehman Brothers' bankruptcy reorganization.[1] Barclays' deal to buy substantially all of Lehman's U.S. capital markets business included the futures operation.[2]
Contents |
History
Products and Services
Key People
- Chairman of the Board, Marcus Agius
- Group Chief Executive, John Varley
- President, Barclays PLC and CEO of Investment Banking and Investment Management Robert E. Diamond Jr.
News
In mid-January of 2009, Barclays' group chief executive John Varley said it was right for banks to apologize for the role they played in causing the credit crunch. Varley said banks must continue to lend in the face of the crisis and he also supported greater action by the Bank of England, as Britain seemingly moved toward zero interest rates.[1]
Resources
- Registered No: 1026167. Registered Office: 1 Churchill Place, London, E14 5HP
References
- ↑ Barclays Boss Backs Banks Apology For Credit Crunch. Yahoo! News/ AFP. Retrieved on January 16, 2009.
