Barclays PLC Antony Jenkins appointed as Group Chief Executive (0478L)
30 August 2012 - 4:02PM
UK Regulatory
TIDMBARC TIDM38AK
RNS Number : 0478L
Barclays PLC
30 August 2012
30 August 2012
Barclays PLC
Antony Jenkins appointed as Group Chief Executive
Barclays PLC and Barclays Bank PLC ("Barclays") announce that
Antony Jenkins has been appointed as a Director and as Group Chief
Executive of Barclays with immediate effect. Mr Jenkins currently
leads Barclays Retail and Business Banking (RBB) business. He has
been a member of the Group Executive Committee of Barclays since
2009. His role as CEO for RBB includes responsibility for retail
banking in Barclays Africa and Absa and he also represents Barclays
as a non--executive Director on the Board of Absa Group Limited and
Absa Bank Limited.
Marcus Agius, Barclays Chairman, said:
"The Board ensured that the process to select the new Chief
Executive was both rigorous and thorough. Antony stood out among a
very competitive field of internal and external candidates because
of his excellent track record transforming Barclaycard and Retail
and Business Banking; his intimate knowledge of Barclays portfolio
garnered over three years on the Group Executive Committee; his
role in the development of the bank's strategy; and his future
vision for Barclays and plan to realise it. Antony's appointment
has the support of all the Directors; we are confident that,
supported by the Board and the Executive Committee, he will work
quickly to take the Group forward. With the appointment of Sir
David Walker to succeed me as Chairman in November, and of Antony
as Chief Executive today, I am pleased that the new leadership of
the bank is settled. "
Sir David Walker, Barclays Chairman-elect, said:
"My first priority since my appointment has been to support the
Board's search for a new Chief Executive. The field of short-listed
candidates that I met was very strong, and it was clear that Antony
was the outstanding choice. His track record, familiarity with the
Group and vision for the future are all highly compelling. I look
forward to working with him closely to make that vision a
reality."
Antony Jenkins, Barclays Group Chief Executive, said:
"I am very proud to have been asked to lead Barclays, where I
began my career nearly 30 years ago. Barclays is a strong universal
bank, with many assets, including market leading businesses;
talented and engaged staff; and long-standing clients and
customers. But we have made serious mistakes in recent years and
clearly failed to keep pace with our stakeholders' expectations. We
have an obligation to all of those stakeholders - customers,
clients, shareholders, colleagues and broader society - and a
unique opportunity to restore Barclays reputation by making it the
"go to" bank in all of our chosen markets. That journey will take
time, we have much to do, and I look forward to getting started
immediately."
There are no other details that are required to be disclosed in
respect of Mr Jenkins' appointment under Paragraph 9.6.13 of the
Listing Rules of the UK Listing Authority.
NOTES TO EDITORS:
- ENDS -
For further information please contact:
Investor Relations Media Relations
Charlie Rozes Stephen Doherty
+44 (0) 20 7116 5752 +44 (0) 20 7116 4755
About Barclays PLC
Barclays is a major global financial services provider engaged
in personal banking, credit cards, corporate and investment banking
and wealth and investment management with an extensive
international presence in Europe, the Americas, Africa and Asia.
With over 300 years of history and expertise in banking, Barclays
operates in over 50 countries and employs 140,000 people. Barclays
moves, lends, invests and protects money for customers and clients
worldwide.
For further information about Barclays, please visit our website
www.barclays.com.
Notes:
Key Compensation arrangements for Antony Jenkins
Antony Jenkins' compensation arrangements will reflect his new
responsibilities. The compensation arrangements have been
benchmarked against a peer group of global universal banks,
industrial companies and financial services institutions. From 30
August 2012, Mr Jenkins' annual salary will be GBP1,100,000 and his
annual incentive award opportunity will be up to a maximum of 250%
of salary. For 2012, any incentive award made to Mr. Jenkins will
reflect his performance as Group Chief Executive following
appointment and his performance as Chief Executive of Retail and
Business Banking prior to appointment. Mr Jenkins will be eligible
to be considered for the grant of an award under the Barclays LTIP
with a total maximum market value in any one year of an amount up
to 400% of salary as at the date of grant. It is anticipated that
the next LTIP award will be for the performance period that
commences 1 January 2013.
Mr Jenkins' existing participation in long term incentives
linked to divisional performance are no longer appropriate to his
new role and will be brought to an end. The equivalent value of
these arrangements will be made as awards with the same vesting
date over Barclays shares under the Barclays Share Value Plan and
the Barclays LTIP for the performance period 2012-14.
Mr Jenkins will be eligible to receive a cash allowance in lieu
of pension of 33% of his salary, per annum.
Antony Jenkins biography
Antony Jenkins is Chief Executive of Retail and Business Banking
and joined the Barclays Executive Committee in November 2009. Prior
to that he had been Chief Executive of Barclaycard since January
2006. Mr Jenkins is the executive responsible for Diversity and
Inclusion at Barclays and in February 2009, he became a Barclays
appointed non-executive director of Absa, the South African banking
group.
From 2008 to 2011, Mr Jenkins was on the Board of Visa Europe
Ltd. He is a member of the steering group for the Big Innovation
Centre, an initiative of the Work Foundation and Lancaster
University, and is closely involved with a number of charities as
well as being a Patron for Government Employee Engagement.
Barclays is where Mr Jenkins started his career in finance back
in 1983, when he completed the Barclays Management Development
Programme before going on to hold various roles in retail and
corporate banking. He moved to Citigroup in 1989, working in both
London and New York.
Mr Jenkins was educated at Oxford University and has a Masters
in Philosophy, Politics and Economics. He also has an MBA from the
Cranfield Institute of Technology.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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