Barclays Fills Chairman Roles for Retail, Investment Banks
19 March 2018 - 10:16PM
Dow Jones News
By Oliver Griffin
Barclays PLC (BARC.LN) said Monday that it has appointed Ian
Cheshire as chairman of Barclays Bank UK PLC, and made Gerry
Grimstone chairman of Barclays Bank PLC.
Reforms introduced to strengthen the U.K. banking system in the
aftermath of the 2008 financial crisis mean that Britain's largest
banks must ring-fence their retail operations from their investment
banks.
The bank said Mr. Cheshire will be chairman of the group's
ring-fenced retail entity, Barclays Bank UK, while Mr. Grimstone
will take up the role of chairman for the corporate and investment
arm, Barclays Bank PLC.
Mr. Cheshire will also continue to serve as a non-executive
director on the board of Barclays Bank PLC, the company said.
Barclays said previously that it will set up its ring-fenced
bank in April 2018, ahead of the Jan. 1, 2019 deadline for
implementing the reforms.
Write to Oliver Griffin at oliver.griffin@dowjones.com
(END) Dow Jones Newswires
March 19, 2018 07:01 ET (11:01 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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