Board of Barclays non-ring fenced bank is revealed
Barclays Bank has announced the board of its non-ring fenced business, Barclays International (BI).
The business has been created to comply with new rules, from the EU Commission, forcing British banks to separate their retail operations from their riskier business to avoid another financial crisis.
The separation of businesses will take place in the first half of 2018 and BI will become Barclays’ non-ring fenced bank. I t will be responsible for oversight of the Corporate and Investment Bank and International Cards and Payments businesses.
The search for board members has been led by Sir Gerry Grimstone, deputy chair and senior independent director of Barclays Group, who will also be appointed chair of the BI board.
The appointments take effect from August 1 this year, following regulatory approval. The board will comprise of:
Executive board members:
- Tim Throsby, president BI
- Emily Portney, chief financial officer BI
Independent non-executive board members:
- Peter Bernard: Chair of BI risk committee
- Jeremy Scott: Chair of BI audit committee
- Helene Vletter-van Dort: Chair of BI remuneration committee
- Maria Richter
- Alex Thursby
Grimstone said: “The formation of the Barclays International board is another important step in strengthening our corporate governance as we prepare for the stand-up of the ring-fenced bank next year.”