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Barclays creates new CEO position as it restructures organization

UK-headquartered international bank Barclays has revealed that Frederik Seegers has been appointed to the new position of chief executive of global retail and commercial banking. Mr Seegers will also sit on the boards of both Barclays plc and Barclays Bank plc with effect from July 10, 2006.

In this role Mr Seegers assume responsibility for all the Barclays retail and commercial banking operations globally. This includes UK banking (retail and business), international retail and commercial banking, and Barclaycard. He will report to John Varley, group chief executive.

Gary Hoffman, currently chairman of UK banking and chairman of Barclaycard, will move to the position of group vice chairman with a range of responsibilities including corporate responsibility, public policy, equality and diversity.

Meanwhile, David Roberts, chief executive of international retail and commercial banking (IRCB), will leave Barclays later this year.

The scale of both our retail and commercial banking interests, and card businesses within the UK and internationally, requires a single point of strategic control and direction as we accelerate our drive for growth and profit diversification. This structure will help us bring the best of Barclays to all points of contact with our customers. I am delighted to appoint Frits Seegers to this role, commented Mr Varley.