Barclays Appoints Board Members of Ring-Fenced U.K. Bank

By Adam ClarkFeaturesDow Jones Newswires

Barclays PLC (BARC.LN) on Thursday announced the appointment of the majority of the board of its ring-fenced U.K. bank unit, due to begin operations from April 2018.

The bank said that Ashok Vaswani, current chief executive of Barclays UK, will be CEO of the ring-fenced unit. Anna Cross, current chief financial officer of Barclays UK, will be CFO.

Continue Reading Below

Barclays has also named five non-executive directors, Michael Jary, Avid Larizadeh Duggan, Kathryn Matthews, Andrew Ratcliffe and Sir John Timpson. Barclays said the non-executive appointments will take effect from the beginning of 2018, and it intends to add two more non-executives early in the year.

Sir Ian Cheshire has already been appointed as chairman of the ring-fenced unit, which will provide retail banking in the U.K.

Shares are up 0.2% at 194.60 pence at 0959 GMT.

Write to Adam Clark at adam.clark@dowjones.com; @AdamDowJones

(END) Dow Jones Newswires

November 30, 2017 05:16 ET (10:16 GMT)