{{Short description|British banking and financial services company}} {{about|the British banking firm|items that may be pluralised as "Barclays"|Barclay (disambiguation)}} {{Use British English|date=July 2015}} {{Use dmy dates|date=April 2024}} {{Infobox company | name = Barclays PLC<!--Please do not change to Barclays Bank PLC, which is a subsidiary of the holding company--> | logo = Barclays logo.svg | logo_size = 250px | logo_caption = Barclays' current logo, used since 2004<ref name="Barclays Eagle">{{Cite web |title=Barclays Eagle |url=https://home.barclays/archive-barclays/stories/Barclays-Eagle/ |website=Barclays |access-date=30 November 2025}}</ref> | image = Barclays Tower.jpg | image_size = x250px | image_caption = Headquarters at [[One Churchill Place]] in [[Canary Wharf]], London | former_name = Barclays Bank PLC (1896{{endash}}1985)<ref name="CompaniesHouse">{{Cite web |date=20 July 1896 |title=Barclays PLC overview - Find and update company information - GOV.UK |url=https://find-and-update.company-information.service.gov.uk/company/00048839 |access-date=22 January 2024 |website=[[Companies House]]}}</ref> | type = [[Public company|Public]] | traded_as = {{ubl|{{lse|BARC}}|{{NYSE|BCS}}|[[FTSE 100 Index|FTSE 100 Component]]}} | ISIN = {{ISIN|sl=n|pl=y|GB0031348658}} | industry = [[Financial services]] | foundation = {{Start date and age|1690|11|17|df=yes}} in the [[City of London]], [[Kingdom of England]] | location = [[One Churchill Place]], Canary Wharf | location_city = London | location_country = England | key_people = {{ubl|Nigel Higgins (group [[chairman]])|[[C. S. Venkatakrishnan]] (group chief executive)}} | area_served = Worldwide | products = {{ubl | [[Asset management]] | [[Banking]] | [[Commodities]] | [[Credit card]]s | [[Equities trading]] | [[Insurance]] | [[Investment management]] | [[Mortgage loan]]s | [[Private equity]] | [[Wealth management]] }} | revenue = {{increase}} [[Pound sterling|£]]29.140 billion (2025)<ref name=ar>{{cite web |url=https://home.barclays/content/dam/home-barclays/documents/investor-relations/ResultAnnouncements/FullYear2025Results/FY25-BPLC-Results-RA.pdf|title=Annual Results 2025|publisher=Barclays|access-date=10 February 2026}}</ref> | operating_income = {{increase}} £9.139 billion (2025)<ref name=ar/> | net_income = {{increase}} £7.213 billion (2025)<ref name=ar/> | assets = {{increase}} £1.544 trillion (2025)<ref name=ar/> | equity = {{increase}} £78.236 billion (2025)<ref name=ar/> | num_employees = 100,000 (2026)<ref>{{cite web| url=https://search.jobs.barclays/about-us|title=About us|publisher=Barclays|access-date=27 January 2026}}</ref> | divisions = {{ubl|Barclays UK|Barclays International}} | homepage = {{URL|home.barclays}} }}
'''Barclays PLC''' ({{IPAc-en|ˈ|b|ɑːr|k|l|i|z}}, occasionally {{IPAc-en|-|l|eɪ|z}})<!--Please do not remove /r/ after /ɑː/, since Wikipedia guidelines for English Pronunciation recommend a diaphonemic transcription, an abstraction of speech sounds that accommodate General American, Received Pronunciation, Canadian English, South African, Australian, and New Zealand pronunciations; i.e. rhotic and non-rhotic pronunciations.--> is a British multinational [[universal bank]], headquartered in [[London]], England. Barclays operates as five divisions: the UK [[Retail banking|Consumer Bank]], UK [[Wholesale banking|Corporate Bank]], [[Private Bank]] and [[Wealth Management]] (PBWM), [[Investment Bank]], and the US Consumer Bank.<ref name="Structure and Leadership">{{cite web| url=https://home.barclays/who-we-are/structure-and-leadership/| title=Structure and Leadership| publisher=Barclays}}</ref>
Barclays traces its origins to the [[goldsmith]] banking business established in the [[City of London]] in 1690 by Quakers [[John Freame]] and Thomas Gould.<ref name=archives>{{citation| url=https://www.archive.barclays.com/items/show/5419| title=Barclays – A Quick History| publisher=archive.barclays.com| access-date=16 August 2017| archive-date=3 April 2019| archive-url=https://web.archive.org/web/20190403215512/https://www.archive.barclays.com/items/show/5419}}</ref> James Barclay became a partner in the business in 1736. In 1896, twelve banks in London and the English provinces, including [[Goslings Bank]], [[Backhouse's Bank]] and [[Gurney's Bank|Gurney, Peckover and Company]], united as a [[joint-stock company|joint-stock]] bank under the name Barclays and Co. Over the following decades, Barclays expanded to become a nationwide bank. In 1967, Barclays deployed the world's first [[Automated teller machine|cash dispenser]]. Barclays has made numerous corporate acquisitions, including of London, Provincial and South Western Bank in 1918, [[British Linen Bank]] in 1919, Mercantile Credit in 1975, [[the Woolwich]] in 2000 and the North American operations of [[Lehman Brothers]] in 2008.<ref>{{cite news |last=Knight |first=India |date=18 September 2008 |title=Barclays' deal gives hope to UK staff of Lehman Brothers |work=[[The Times]] |location=London |url=http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article4776142.ece |archive-url=https://web.archive.org/web/20080923200033/http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article4776142.ece |archive-date=23 September 2008 |access-date=26 April 2010}}</ref>
Barclays has a primary listing on the [[London Stock Exchange]] and is a constituent of the [[FTSE 100 Index]]. It has a secondary listing on the [[New York Stock Exchange]]. It is considered a [[Systemically important financial institution|systemically important bank]] by the [[Financial Stability Board]].<ref>{{Cite web |date=23 November 2021 |title=2021 List of Global Systemically Important Banks (G-SIBs) |url=https://www.fsb.org/2021/11/2021-list-of-global-systemically-important-banks-g-sibs/ |access-date=20 March 2022 |website=fsb.org |publisher=[[Financial Stability Board]]}}</ref> According to a 2011 paper, Barclays was the most powerful [[transnational corporation]] in terms of ownership and thus [[corporate power|corporate control]] over [[Global financial system|global financial stability]] and [[market competition]], with [[Axa]] and [[State Street Corporation]] taking the 2nd and 3rd positions, respectively.<ref>{{cite news |url=http://images.zeit.de/wissen/2012-05/s37-infografik-wirtschaft.pdf |title=Wem gehört die Welt? |access-date=16 August 2017 |trans-title=Who owns the world? | work=[[Die Zeit]] |date=31 March 2012 |archive-url=https://web.archive.org/web/20161004225112/http://images.zeit.de/wissen/2012-05/s37-infografik-wirtschaft.pdf |archive-date=4 October 2016 |language=de}}</ref><ref>{{cite journal| title=The Network of Global Corporate Control| first1=Stefania| last1=Vitali| first2=James B.| last2=Glattfelder| first3=Stefano| last3=Battiston| name-list-style=amp| journal= PLOS ONE|volume = 6|issue = 10|article-number = e25995| date=26 October 2011| doi=10.1371/journal.pone.0025995|pmid = 22046252|pmc = 3202517| arxiv=1107.5728|bibcode = 2011PLoSO...625995V| doi-access=free}}</ref> Barclays operates in over 40 countries, employs over 80,000 people.<ref name=":2">{{cite web |title=Our Firm |url=http://www.barcap.com/About+Barclays+Capital/Our+Firm |publisher=Barclays Capital}}</ref><ref>{{Cite web |title=Europe’s 50 largest banks by assets, 2024 |url=https://www.spglobal.com/market-intelligence/en/news-insights/research/europes-50-largest-banks-by-assets-2024 |archive-url=http://web.archive.org/web/20260113152402/https://www.spglobal.com/market-intelligence/en/news-insights/research/europes-50-largest-banks-by-assets-2024 |archive-date=2026-01-13 |access-date=2026-01-24 |website=S&P Global Market Intelligence |language=en}}</ref>
Barclays UK comprises the British retail banking operations, consumer credit card business, wealth management business, and corporate banking for small, medium and large-sized businesses in the UK.<ref>{{Cite web |title=Barclays |url=https://www.forbes.com/companies/barclays/ |access-date=20 March 2022 |website=Forbes}}</ref> Barclays International consists of Barclays Corporate & Investment Bank (formerly known as '''Barclays Capital''') and the Consumer, Cards & Payments business. The [[bulge-bracket]] [[investment banking]] business provides advisory, financing and [[risk management]] services to large companies, institutions and government clients. It is a [[Primary dealers|primary dealer]] in [[Gilt-edged securities|Gilts]], [[Treasury security|U.S. Treasury securities]] and various European [[Government bond]]s.
According to [[S&P Global]]'s April 2026 report, Barclays is Europe's fifth largest bank by assets, with $2.078 trillion in assets.<ref>{{Cite news |last=Mones|first=Deza|date=24 April 2026|title=Europe's 50 largest banks by assets, 2026|url=https://www.spglobal.com/market-intelligence/en/news-insights/research/2026/04/the-worlds-largest-banks-by-assets-2026|work=S&P Global}}</ref>
==Name== The bank's name has never included an apostrophe (Barclay's) in its spelling. It was first registered in 1896 as "Barclay and Company, Limited", changed to "Barclays Bank Limited" in 1917 and to "Barclays Bank PLC" in 1982.<ref>{{cite book |last= Barfoot |first= C. C. |title= Trouble with the Apostrophe: Or, 'You Know What Hairdresser's Are Like' Language usage and description: Studies presented to N.E. Osselton on the occasion of his retirement |year= 1991 |pages= 129–130 |editor1= Ingrid Tieken-Boon van Ostade |editor2= John Frankis |publisher= Rodopi |location= Amsterdam – Atlanta, GA |isbn= 90-5183-312-1 |url= https://books.google.com/books?id=ww3cSZGVgoUC&pg=PA129 |access-date= 30 May 2022}}</ref>
==History== ===1690 to 1900=== [[File:Barclays and Co. cheque. For 39 pounds, 4 shillings, and 2 pence. Issued in London by Messrs Barclay and Tritton, 1793. On display at the British Museum in London.jpg|thumb|Barclays and Co. cheque for 39 pounds, 4 shillings, and 2 pence<!-- ({{Inflation|UK|{{£sd|l=39|s=4|d=2}}|1793|fmt=eq}})-->, issued in London by Messrs Barclay and Tritton, 1793, on display at the British Museum in London]]
Barclays traces its origins back to 17 November 1690, when two [[Quakers]], [[John Freame]] and Thomas Gould, started trading as [[goldsmith banker]]s in [[Lombard Street, London]].<ref>{{Cite web |title=Barclays Our Story and History {{!}} Barclays |url=https://home.barclays/who-we-are/our-history/ |access-date=2025-12-19 |website=home.barclays |language=en}}</ref> The name "Barclays" became associated with the business in 1736, when Freame's son-in-law James Barclay became a partner.<ref>{{cite web |url=http://www.aboutbarclays.co.uk/content/detail.asp?NewsAreaID=138 |access-date=30 January 2007 |title=Company History |work=Barclays Newsroom: Business History |publisher=Barclays |archive-date=31 January 2009 |archive-url=https://web.archive.org/web/20090131173344/http://www.aboutbarclays.co.uk/content/detail.asp?NewsAreaID=138 }} See also: ''Barclays: The Business of Banking, 1690–1996'' by Margaret Ackrill and [[Leslie Hannah]]; Cambridge UP, 2001 {{ISBN|0-521-79035-2}}</ref> In 1728, the bank moved to 54 Lombard Street, identified by the "Sign of the Black Spread [[Eagle (heraldry)|Eagle]]", which in subsequent years would become a core part of the bank's visual identity.<ref>{{cite web |url=http://www.aboutbarclays.co.uk/content/detail.asp?NewsAreaID=138 |access-date=11 May 2008 |title=Company History |work=Barclays.lk – About us: Our History {{!}} 1690–1972 |publisher=Barclays |archive-date=31 January 2009 |archive-url=https://web.archive.org/web/20090131173344/http://www.aboutbarclays.co.uk/content/detail.asp?NewsAreaID=138 }}</ref>
The Barclay family were connected with slavery, both as proponents and opponents. David and Alexander Barclay were engaged in the slave trade in 1756.<ref>{{cite book |last=Williams |first=Eric |date=1964 |title=Slavery and Capitalism |location=London |publisher= Deutsch|page=116 }}</ref> [[David Barclay of Youngsbury]] (1729–1809), on the other hand, was a noted [[abolitionism in the United Kingdom|abolitionist]], and [[Verene Shepherd]], the [[history of Jamaica|Jamaican historian]] of [[diaspora studies]], states that he chose to [[manumission|free his slaves]] in [[English Jamaica|that colony]].<ref>{{cite news|last1=Shepherd|first1=Verene|title=Freedom in the era of slavery: The case of the Barclay brothers in Jamaica|url=http://old.jamaica-gleaner.com/gleaner/20080224/news/news3.html|access-date=15 January 2018|publisher=The Gleaner|date=24 February 2008}}</ref>
In 1776, the firm was styled "Barclay, Bevan and Bening" and remained so until 1785, when another partner, John Tritton, who had married a Barclay, was admitted, and the business then became "Barclay, Bevan, Bening and Tritton".<ref>Gamble 1923, 46.</ref> In 1896, twelve houses in London and the English provinces, notably [[Goslings Bank|Goslings and Sharpe]], [[Backhouse's Bank]] of [[Darlington]]<ref>{{cite book| first1=Margaret| last1=Ackrill| first2=Leslie| last2=Hannah | author2-link = Leslie Hannah | title=Barclays: The Business of Banking, 1690-1996| url=https://books.google.com/books?id=yAwipk34KP0C| year=2001| publisher=Cambridge University Press| isbn=978-0-521-79035-2| page=57}}</ref> and [[Gurney's Bank]] of [[Norwich]] (the latter two of which also had their roots in Quaker families), united to form Barclays and Co., a [[joint-stock company|joint-stock]] bank, which at its formation held around one quarter of deposits in English private banks.<ref>{{cite web| url=http://www.heritagecity.org/research-centre/industrial-innovation/the-gurney-family-and-banking-in-norwich.htm| archive-url=https://web.archive.org/web/20100717225313/http://www.heritagecity.org/research-centre/industrial-innovation/the-gurney-family-and-banking-in-norwich.htm| url-status=usurped| archive-date=17 July 2010| title=The Gurney family and banking in Norwich| publisher=Heritage City| access-date=19 March 2016}}</ref>
=== 1900 to 1945 === [[File:Northward view from top of The Monument, London, 1981-geograph-4640018-by-Ben-Brooksbank.jpg|thumb|The longstanding head office of Barclays on the corner of [[Lombard Street, London|Lombard Street]] and [[Gracechurch Street]] (lower left) before its demolition in the late 1980s]] [[File:1 Crossroads Sutton Surrey London.JPG|thumb|Barclays branch in [[Sutton, London|Sutton]], southern Greater London, which was originally a branch of London and Provincial prior to acquisition by Barclays]]
Between 1905 and 1916, Barclays extended its branch network by making acquisitions of small English banks. Further expansion followed in 1918 when Barclays amalgamated with the [[London, Provincial and South Western Bank]], and in 1919, when the [[British Linen Bank]] was acquired by Barclays, although the British Linen Bank retained a separate board of directors and continued to issue its own banknotes (see [[Banknotes of the pound sterling]]).<ref>{{cite web| url=http://www.stirlingarchives.scot/2016/02/15/bank-and-agents-house-british-linen-bank-balfron-1923/| title=Bank and Agent's House, British Linen Bank| date=15 February 2016| publisher=Stirling Archives| access-date=19 March 2016}}</ref>
{{anchor|Barclays DCO}} In 1925, the [[Colonial Bank (West Indies)|Colonial Bank]], [[National Bank of South Africa]] and the [[Anglo-Egyptian Bank]] were amalgamated and Barclays operated its overseas operations under the name Barclays Bank (Dominion, Colonial and Overseas)—Barclays DCO.<ref name=pohl/> In 1938, Barclays acquired the first Indian exchange bank, the Central Exchange Bank of India, which had opened in London in 1936 with the sponsorship of the [[Central Bank of India]].<ref>Raychaudhuri ''et al.'', eds. (1983), Vol. 2, p.782.</ref>
In 1941, during the German [[occupation of France]], a branch of Barclays in Paris, headed by Marcel Cheradame, worked directly with the invading force.<ref name=Cheradame>{{cite web| url=https://www.theguardian.com/world/1999/mar/28/theobserver7| title=Holocaust shame of Barclays| work=The Guardian| date=28 March 1999| access-date=1 January 2019}}</ref> Senior officials at the bank volunteered the names of Jewish employees, as well as ceding an estimated one hundred Jewish bank accounts to the German occupiers.<ref>{{cite web| url=https://news.bbc.co.uk/2/hi/business/237392.stm| title=Barclays to compensate Jews | work=BBC News| access-date=1 January 2019}}</ref> The Paris branch used its funds to increase the operational power of a large quarry that helped produce steel for the Germans. There was no evidence of contact between the head office in London and the branch in Paris during the occupation. Marcel Cheradame was kept as the branch manager until he retired in the sixties.<ref name=Cheradame/>
===1946 to 1980=== In May 1958, Barclays was the first UK bank to appoint a female bank manager. [[Hilda Harding]] managed Barclays' Hanover Square branch in London until her retirement in 1970.<ref>{{cite web |url=https://www.archive.barclays.com/items/show/662 |title=Head Office Circular announcing the appointment of Hilda Harding as branch manager |publisher=Barclays |date=15 May 1958 |access-date=25 September 2015 |archive-date=25 September 2015 |archive-url=https://web.archive.org/web/20150925054807/https://www.archive.barclays.com/items/show/662 }}</ref>
[[File:Atmplaque.jpg|thumb|right|A plaque in [[Enfield Town|Enfield]], United Kingdom commemorating the installation of the world's first [[Automated teller machine|cash machine]] by Barclays in 1967]]
In 1965, Barclays established a US affiliate, Barclays Bank of California, in [[San Francisco]].<ref>{{cite news| work=Investors chronicle and stock exchange gazette| date=5 December 1969| volume=10| page=922| title=Barclays}} Accessed 4 May 2012.</ref><ref>{{cite news| author=Leith McGrandle| work=Accountancy| date=5 December 1969| volume=85| page=54 |title=Barclays}} Accessed 4 May 2012.</ref>
Barclays launched the first credit card in the UK, [[Barclaycard]], in 1966. On 27 June 1967, Barclays deployed the world's first [[automated teller machine|cash machine]], in [[Enfield Town|Enfield]]; [[Barclays Bank, Enfield]].<ref>{{cite news|url=https://books.google.com/books?id=3AQAAAAAMBAJ&pg=PA32|title=Insert card here|access-date=4 May 2012| publisher=CIO Magazine| date=July 1988}}</ref><ref name=bbc25607>{{cite news |url=https://news.bbc.co.uk/2/hi/6230194.stm |title=The man who invented the cash machine |access-date=4 May 2012 |work=BBC News |date=25 June 2007 |first=Brian |last=Milligan }}</ref> The British actor [[Reg Varney]] was the first person to use the machine.<ref name=bbc25607/>
{{Infobox UK legislation | short_title = {{visible anchor|Barclays Bank D.C.O Act 1957}} | type = Act | parliament = Parliament of the United Kingdom | long_title = An Act to make provision respecting the articles or regulations for the government of Barclays Bank D.C.O. to make provision with respect to its general meetings to increase its authorised capital and for other purposes. | year = 1957 | citation = [[5 & 6 Eliz. 2]]. c. vii | introduced_commons = | introduced_lords = | territorial_extent = | royal_assent = 6 June 1957 | commencement = | expiry_date = | repeal_date = | amends = | replaces = | amendments = | repealing_legislation = Barclays Bank Act 1984 | related_legislation = | status = repealed | legislation_history = | theyworkforyou = | millbankhansard = | original_text = https://www.legislation.gov.uk/ukla/Eliz2/5-6/7/pdfs/ukla_19570007_en.pdf | revised_text = | use_new_UK-LEG = | UK-LEG_title = | collapsed = yes }} In 1969, a planned merger with [[Martins Bank]] and [[Lloyds Bank]] was blocked by the [[Competition Commission (United Kingdom)|Monopolies and Mergers Commission]], but the acquisition of [[Martins Bank]] on its own was later permitted. Also that year, the [[British Linen Bank]] subsidiary was sold to the [[Bank of Scotland]] in exchange for a 25% stake, a transaction that became effective from 1971. Barclays DCO changed its name to Barclays Bank International in 1971.<ref name=pohl>{{cite book| author=European Association for Banking History| editor-last1=Pohl| editor-first1=Manfred| editor-last2=Freitag| editor-first2=Sabine| title=Handbook on the history of European banks| date=1994| publisher=E. Elgar| location=Aldershot, Hants, England| isbn=978-1-78195-421-8| pages=1198–1199| url=https://books.google.com/books?id=eXvfNDHpfWwC&q=%22barclays+bank+international%22+established&pg=PA1193|access-date=10 October 2014}}</ref>
From 1972 until 1980, a minority stake in Banca Barclays Castellini SpA, [[Milan]] was owned by the [[Castellini Baldissera|Castellini]] family. In 1980, Barclays Bank International acquired the remaining stake in Barclays Castellini from the Castellini family.<ref>{{Cite web|title=Italy {{!}} Barclays Group Archives|url=https://www.archive.barclays.com/items/show/65|access-date=14 September 2020|website=www.archive.barclays.com|archive-date=24 October 2020|archive-url=https://web.archive.org/web/20201024054144/https://www.archive.barclays.com/items/show/65}}</ref>
{{anchor|Barclays Bank International Act 1974}} {{Infobox UK legislation | short_title = Barclays Bank International Act 1974 | type = Act | parliament = Parliament of the United Kingdom | long_title = An Act to provide for the manner in which Barclays Bank International Limited may alter, revoke or add to its objects; and for other purposes. | year = 1974 | citation = [[List of acts of the Parliament of the United Kingdom from 1974|1974]] c. ix | introduced_commons = | introduced_lords = | territorial_extent = | royal_assent = 23 May 1974 | commencement = | expiry_date = | repeal_date = | amends = | replaces = | amendments = | repealing_legislation = Barclays Bank Act 1984 | related_legislation = | status = repealed | legislation_history = | theyworkforyou = | millbankhansard = | original_text = https://www.legislation.gov.uk/ukla/1974/9/pdfs/ukla_19740009_en.pdf | revised_text = | use_new_UK-LEG = | UK-LEG_title = | collapsed = yes }} In August 1975, following the [[Secondary banking crisis of 1973–1975|secondary banking crash]], Barclays acquired Mercantile Credit Company.<ref>{{cite book| title=The secondary banking crisis, 1973–75: its causes and course| first1=Margaret| last1=Reid| publisher=Macmillan| year=1982| isbn=978-0-333-28376-9 |page=128| url=https://books.google.com/books?id=_XmuAAAAIAAJ&q=The+secondary+banking+crisis,+1973-75:+its+causes+and+course| access-date=4 May 2012}}</ref>
===1980 to 2000=== [[File:Londres - 54, Lombard Street.JPG|thumb|Barclays head office after reconstruction in 1992 on a design by [[GMW Architects]],<ref>{{cite web |website=Manchester History |url=https://manchesterhistory.net/architecture/1990/54lombard.html |title=54 Lombard Street, London, UK}}</ref> photographed in 2008 before subsequent remodeling]]
Barclays Bank International expanded its business in 1980 to include commercial credit and took over American Credit Corporation, renaming it Barclays American Corporation.<ref>{{cite web |url=http://www.fundinguniverse.com/company-histories/Barclays-plc-Company-History.html |access-date=28 March 2009 |title=Barclays plc |work=Funding Universe}}</ref>
{{Infobox UK legislation | short_title = {{visible anchor|Barclays Bank Act 1984}} | type = Act | parliament = Parliament of the United Kingdom | long_title = An Act to provide for the reorganisation of the Barclays group of companies by the transfer to Barclays Bank International Limited of the undertaking of Barclays Bank PLC; and for other purposes. | year = 1984 | citation = [[List of acts of the Parliament of the United Kingdom from 1984|1984]] c. x | introduced_commons = | introduced_lords = | territorial_extent = | royal_assent = 26 June 1984 | commencement = | expiry_date = | repeal_date = | amends = | replaces = {{ubli|Barclays Bank D.C.O. Act 1957|Barclays Bank International Act 1974}} | amendments = | repealing_legislation = | related_legislation = | status = current | legislation_history = | theyworkforyou = | millbankhansard = | original_text = https://www.legislation.gov.uk/ukla/1984/10/pdfs/ukla_19840010_en.pdf | revised_text = | use_new_UK-LEG = | UK-LEG_title = | collapsed = yes }} During 1985 Barclays Bank and Barclays Bank International merged,<ref name="a2020214">MJ Larson, G Schnyder, G Westerhaus, J Wilson (2013) — [https://books.google.com/books?id=Kb7cAAAAQBAJ&dq=Barclays+Group&pg=PA53 p.53] in (Andrea Colli, Abe De Jong, Martin Jes Iversen editors) [https://books.google.com/books?id=Kb7cAAAAQBAJ&q=Barclays+Group Mapping European Corporations: Strategy, Structure, Ownership and Performance] published by [[Routledge]], 13 September 2013 {{ISBN|1135754446}}, {{ISBN|9781135754440}} - accessed 14 February 2020</ref> and as part of the corporate reorganisation the former Barclays Bank plc became a group holding company,<ref name=pohl/> renamed Barclays Group Plc,<ref name=a2020214/> and UK [[retail banking]] was integrated under the former BBI, and renamed ''Barclays Bank PLC'' from ''Barclays Bank Limited''.<ref name=pohl/>
In response to the [[Big Bang (financial markets)|Big Bang]] on the [[London Stock Exchange]], in 1986 Barclays bought UK [[stockbroker]] de Zoete & Bevan and [[Stockjobber|jobbing firm]] '''Wedd Durlacher''' (formerly Wedd Jefferson).<ref>{{cite web |url=http://sas-space.sas.ac.uk/2762/ |title=Abstract – SAS-Space |date=8 February 2011 |publisher=Sas-space.sas.ac.uk |access-date=28 June 2012}}</ref> They were merged with Barclays Merchant Bank to form '''Barclays de Zoete Wedd''' (BZW).<ref>{{cite web |url=http://www.linkedin.com/company/bzw-barclays-de-zoete-wedd- |title=About BZW (Barclays de Zoete Wedd) |publisher=LinkedIn |access-date=23 August 2013}}</ref> Also that year Barclays sold its South African business operating under the [[First National Bank (South Africa)|Barclays National Bank]] name after protests against Barclays' involvement in South Africa and its [[apartheid]] government.<ref>{{Cite web|url=https://www.theheritageportal.co.za/article/south-africas-oldest-bank-epic-photographic-journey|title=South Africa's Oldest Bank – An epic photographic journey|publisher=The Heritage Portal|access-date=20 March 2022}}</ref>
Barclays introduced the ''Connect'' card in June 1987, the first [[debit card]] in the United Kingdom.<ref>{{cite book |title=Law of bank payments |first1=Michael |last1=Lerego |publisher=FT Law & Tax |year=1996 |isbn=978-0-7520-0037-4 |page=472 |url=https://books.google.com/books?id=anVMAQAAIAAJ&q=Law+of+bank+payments+Michael+Lerego |access-date=4 May 2012}}</ref><ref>{{cite book |title=The banking revolution: salvation or slaughter?: how technology is creating winners and losers |first1=Mark |last1=Carrington |first2=Philip |last2=Langguth |first3=Thomas |last3=Steiner |publisher=Financial Times Pitman |year=1997 |isbn=978-0-273-63055-5 |page=119 |url=https://books.google.com/books?id=fid2QgAACAAJ&q=The+banking+revolution:+salvation+or+slaughter |access-date=4 May 2012}} {{Dead link |date=March 2017}}</ref>
In 1988, Barclays sold Barclays Bank of California, which at that time was the 17th-largest bank in California measured by assets, to [[Wells Fargo]] for US$125 million in cash.<ref>{{cite news |url=https://www.nytimes.com/1988/01/16/business/company-news-wells-fargo-to-buy-barclays-in-california.html |title=Wells Fargo to Buy Barclays in California |access-date=4 May 2012 |work=The New York Times |date=16 January 1988 |first=Lawrence M. |last=Fisher}}</ref>
[[Edgar Pearce]], the "Mardi Gra Bomber", began a terror campaign against the bank and the supermarket chain [[Sainsbury's]] in 1994.<ref>{{cite news |url=https://news.bbc.co.uk/2/hi/uk_news/318913.stm |title=Mardi Gra bomber jailed |work=BBC News |date=14 April 1999 |access-date=18 April 2011}}</ref>
Barclays bought Wells Fargo Nikko Investment Advisors (WFNIA) in 1996 and merged it with BZW Investment Management to form [[Barclays Global Investors]].<ref>{{cite news |url=https://www.nytimes.com/1995/06/19/business/barclays-may-soon-purchase-wells-fargo-nikko.html |title=Barclays may well soon buy Wells Fargo Nikko |work=The New York Times |date=19 June 1995 |access-date=18 April 2011}}</ref> [[Bob Diamond (banker)|Bob Diamond]] took charge of the investment banking businesses that year.<ref>{{Cite web|url=http://group.barclays.com/About-us/Management-structure/The-Board/Biography/1225802845162.html|archive-url=https://web.archive.org/web/20090726113910/http://group.barclays.com/About-us/Management-structure/The-Board/Biography/1225802845162.html|title=Barclays.com - Bob Diamond|archive-date=26 July 2009|website=group.barclays.com}}</ref> 80% of Barclays's revenue came from UK retail and commercial banking at that time; Diamond's goal was to compete with US [[bulge-bracket]] investment banks, and the firm allowed him to do so despite Diamond's division losing hundreds of millions of pounds in the [[1998 Russian financial crisis]].{{r|junod20090911}}
Two years later, in 1998, the BZW business was broken up and the Equity and Corporate Finance divisions were sold to [[Credit Suisse First Boston]]: Barclays retained the debt-focused Fixed Income business and Structured Capital Markets which formed the foundation of the rebranded Barclays Capital ('''BarCap''').<ref>{{cite web |url=http://www.highbeam.com/doc/1P2-4885056.html |archive-url=https://web.archive.org/web/20121102215642/http://www.highbeam.com/doc/1P2-4885056.html |archive-date=2 November 2012 |title=Revealed: what Credit Suisse really thinks about BZW |date=14 November 1997 |access-date=18 April 2011}}</ref><ref>{{cite web |title=About BZW (Barclays de Zoete Wedd) |url=http://www.linkedin.com/company/bzw-barclays-de-zoete-wedd- |access-date=23 August 2013 |publisher=LinkedIn}}</ref> Barclays Capital had offices in over 29 countries and employed over 20,000 people, with over 7,000 people working in its [[Information technology|IT]] division.<ref name=":2" />
In 1998, Barclays Bank agreed to pay $3.6m to Jews whose assets were seized from French branches of the British-based bank during World War II.<ref name="bbc">{{cite news| title=Barclays to Compensate Jews| work=[[BBC News]]| publisher=BBC.com| date=17 December 1998| access-date=13 September 2013| url=https://news.bbc.co.uk/2/hi/business/237392.stm}}</ref> Barclays, along with seven French banks, was named in a lawsuit filed in New York on behalf of Jews who were unable to reclaim money they deposited during the Nazi era.<ref name="bbc"/>
In an unusual move as part of the trend at the time for [[free ISP]]s, Barclays launched an [[Internet service provider]] in 1999 called Barclays.net. This entity was acquired by [[British Telecom]] in 2001.<ref>{{cite web|url=http://www.barclays.net |title=Barclays webpage |access-date=18 April 2011 |archive-url=https://web.archive.org/web/20070517045409/http://www.barclays.net/ |archive-date=17 May 2007 }}</ref>
In the 1990s, Barclays helped to fund President [[Robert Mugabe]]'s government in [[Zimbabwe]].<ref>{{cite news |url=http://www.timesonline.co.uk/tol/news/uk/article2848046.ece |archive-url=https://web.archive.org/web/20081007172946/http://www.timesonline.co.uk/tol/news/uk/article2848046.ece |title=Barclays bankrolls Mugabe's brutal regime |archive-date=2008-10-07 |work=The Times}}</ref> The most controversial of a set of loans provided by Barclays was the £30 million it gave to help sustain land reforms that saw Mugabe seize white-owned farmland and drive more than 100,000 black workers from their homes. Opponents have called the bank's involvement a "disgrace" and an "insult" to the millions who have suffered human rights abuses.<ref>{{cite news |first1=Antony |last1=Barnett |first2=Christopher |last2=Thompson |url=https://www.theguardian.com/money/2007/jan/28/accounts.Zimbabwenews |title=Barclays' millions help to prop up Mugabe regime |work=The Guardian |location=Manchester |date=28 January 2007 |access-date=18 April 2011}}</ref> A Barclays spokesman said the bank has had customers in Zimbabwe for decades and abandoning them now would make matters worse, "We are committed to continuing to provide a service to those customers in what is clearly a difficult operating environment".<ref>{{cite news |last=Macleod |first=Murdo |url=http://news.scotsman.com/zimbabwe/Barclays-helping-to-fund-Mugabe.3497546.jp |title=Barclays' 'helping to fund Mugabe regime' |work=The Scotsman |date=11 November 2007 |access-date=18 April 2011 |location=Edinburgh}}</ref> Barclays also provided bank accounts to two of Mugabe's associates, who were subject to European Union sanctions on Zimbabwe.<ref>{{cite web |last=Macleod |first=Murdo |url=http://scotlandonsunday.scotsman.com/zimbabwe/Barclays-helping-to-fund-Mugabe.3497546.jp |title=Barclays 'helping to fund Mugabe regime' |work=The Scotsman |access-date=18 April 2011}}</ref> The men are Elliot Manyika and minister of public service Nicholas Goche. Barclays has defended its position by insisting that the EU rules do not apply to its 67%-owned Zimbabwean subsidiary because it was incorporated outside the EU.<ref>{{cite news |url=http://www.timesonline.co.uk/tol/news/world/africa/article4232283.ece |title=Robert Mugabe henchmen backed by Barclays |archive-url=https://web.archive.org/web/20110604144412/http://www.timesonline.co.uk/tol/news/world/africa/article4232283.ece |archive-date=4 June 2011 |work=The Times}}</ref>
=== 2000 to 2010 === In August 2000, Barclays took over the recently de-mutualised [[Woolwich Building Society]],<ref>{{Cite news |url= https://news.bbc.co.uk/2/hi/business/875639.stm |title= Barclays buys rival Woolwich |work= BBC News |date= 11 August 2000 |access-date= 18 April 2011}}</ref> in a £5.4 billion acquisition. Woolwich thus joined the Barclays group of companies, and the Woolwich name was retained after the acquisition. The company's head office remained in [[Bexleyheath]], south-east [[London]], {{Convert | 4 | mi | 0 | spell = in}} from the original head office in [[Woolwich]].<ref>[https://news.bbc.co.uk/2/hi/business/875639.stm Barclays buys rival Woolwich]. BBC News, 11 August 2000.</ref>
[[File:Barclays Bank, Stratford-upon-Avon - DSC08949.JPG|thumb|right|A Barclays branch in [[Stratford-upon-Avon]], United Kingdom]] Barclays closed 171 branches in the UK in 2001, many of them in rural communities: Barclays called itself "The Big Bank", but this name was quickly given a low profile after a series of embarrassing PR stunts.<ref>{{Cite news|url=https://www.independent.co.uk/news/business/news/everythings-big-at-barclays-the-chairmans-pay-has-quadrupled-just-as-171-branches-are-closing-722358.html |archive-url=https://web.archive.org/web/20090131202335/http://www.independent.co.uk/news/business/news/everythings-big-at-barclays-the-chairmans-pay-has-quadrupled-just-as-171-branches-are-closing-722358.html |archive-date=31 January 2009 |title=Everything is big at Barclays: the chairman's pay has quadrupled just as 171 branches are closing |work=The Independent |location=UK |date=31 March 2000 |access-date=18 April 2011}}</ref>
On 31 October 2001, Barclays and [[Canadian Imperial Bank of Commerce|CIBC]] agreed to combine their [[Caribbean]] operations to establish a joint venture company known as [[FirstCaribbean International Bank]] (FCIB).<ref>{{cite news|url=https://www.theglobeandmail.com/report-on-business/cibc-barclays-planning-caribbean-joint-venture/article18416752/|title=CIBC, Barclays planning Caribbean joint venture|date=24 July 2001|website=The Globe and Mail}}</ref>
In 2003, Barclays bought the American credit card company [[Juniper Bank]] from [[Canadian Imperial Bank of Commerce|CIBC]], re-branding it as "Barclays Bank Delaware".<ref>{{Cite news |last=Timmons |first=Heather |url=https://www.nytimes.com/2004/08/19/business/barclays-pays-293-million-for-us-credit-card-issuer.html |title=Barclays pays $293 million for US credit card issuer |work=The New York Times |date=19 August 2004 |access-date=18 April 2011}}</ref> The same year saw the acquisition of Banco Zaragozano, the 11th-largest Spanish bank.<ref>{{Cite news|last=Timmons |first=Heather |url=https://www.nytimes.com/2003/05/09/business/barclays-agrees-to-buy-spanish-bank-in-cash-deal.html |title=Barclays agrees to buy Spanish bank in cash deal |location=SPAIN |work=The New York Times |date=9 May 2003 |access-date=18 April 2011}}</ref>
In May 2005, Barclays moved its group headquarters from [[Lombard Street, London|Lombard Street]] in the [[City of London]] to [[One Churchill Place]] in [[Canary Wharf]]. Also in 2005 Barclays sealed a £2.6bn takeover of [[Absa Group Limited]], South Africa's largest retail bank, acquiring a 54% stake on 27 July 2005.<ref>{{Cite news|url=https://news.bbc.co.uk/2/hi/business/3683830.stm |title=Barclays looks to buy Absa stake |work=BBC News |date=23 September 2004 |access-date=18 April 2011}}</ref>
In 2006, Barclays purchased the HomEq Servicing Corporation for US$469 million in cash from [[Wachovia]] Corp.<ref>{{cite web |first=Aaron |last=Siegel |date=23 June 2006 |url=http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20060623/REG/606230708/1094/INDaily03 |title=Barclays buys Wachovia unit for $469 million |work=InvestmentNews |access-date=16 August 2017 |archive-date=4 February 2009 |archive-url=https://web.archive.org/web/20090204025758/http://www.investmentnews.com/apps/pbcs.dll/article?AID=%2F20060623%2FREG%2F606230708%2F1094%2FINDaily03 }}</ref> That year also saw the acquisition of the financial website CompareTheLoan<ref>{{cite web |url=http://www.comparetheloan.co.uk |title=Cheap Homeowner Loans, Compare Loans, UK Secured Loans |publisher=Comparetheloan |access-date=18 April 2011 |archive-url=https://web.archive.org/web/20181112172021/http://comparetheloan.co.uk/ |archive-date=12 November 2018 }}</ref> and Barclays announcing plans to rebrand Woolwich branches as Barclays, migrating Woolwich customers onto Barclays accounts and migrating back-office processes onto Barclays systems—the Woolwich brand was to be used for Barclays mortgages.<ref>{{cite web |url=http://www.mad.co.uk/BreakingNews/BreakingNews/Articles/dc366386b91141a4bd605f83c3d36f8c/Barclays-plans-rebrand-of-Woolwich.html |title=Barclays plans rebrand of Woolwich |publisher=Mad.co.uk |date=28 June 2006 |access-date=18 April 2011 |archive-date=24 February 2012 |archive-url=https://web.archive.org/web/20120224053816/http://www.mad.co.uk/BreakingNews/BreakingNews/Articles/dc366386b91141a4bd605f83c3d36f8c/Barclays-plans-rebrand-of-Woolwich.html }}</ref> Barclays also exited retail-banking operations in the Caribbean-region which extended as far back as 1837 through selling of its joint venture stake in FirstCaribbean International Bank (FCIB) to CIBC for between $989 million and $1.08 billion.<ref>{{cite web|url=https://www.bbc.co.uk/webarchive/https%3A%2F%2Fwww.bbc.co.uk%2Fcaribbean%2Fnews%2Fstory%2F2006%2F12%2Fprintable%2F061228_barclays.shtml |title=Barclays sells Caribbean stake |date=28 December 2006|publisher=BBC|access-date=2 March 2019}}</ref>
In March 2007, Barclays announced plans to purchase [[ABN AMRO]], the largest bank in the Netherlands.<ref>{{cite press release |date=20 March 2007 |url=http://www.newsroom.barclays.co.uk/content/Detail.asp?ReleaseID=985&NewsAreaID=2 |title=Barclays and ABN AMRO Announce Outline of Preliminary Discussions |publisher=Barclays |access-date=18 April 2011 |archive-url=https://web.archive.org/web/20090107012336/http://www.newsroom.barclays.co.uk/content/Detail.asp?ReleaseID=985&NewsAreaID=2 |archive-date=7 January 2009}}</ref><ref>{{cite news |last=Werdigier |first=Julia |url=https://www.nytimes.com/2007/03/19/business/19deal.html |title=Barclays Bank Makes Inquiry on Takeover of ABN Amro |work=The New York Times |date=19 March 2007 |access-date=2 February 2012}}</ref> However, on 5 October 2007 Barclays announced that it had abandoned its bid,<ref>{{cite news |url=https://news.bbc.co.uk/2/hi/business/7029297.stm |title=Barclays abandons ABN Amro offer |work=BBC News |date=5 October 2007 |access-date=18 April 2011}}</ref> citing inadequate support by ABN shareholders. Fewer than 80% of shares had been tendered to Barclays' cash-and-shares offer.<ref>{{cite news |last=Mollenkamp |first=Carrick |url=https://www.wsj.com/articles/SB119158340445950068?mod=googlenews_wsj |title=Barclays's CEO Shifts to Plan B |work=The Wall Street Journal |date=3 February 2011 |access-date=18 April 2011 |url-access=subscription }}</ref> This left the consortium led by [[NatWest Group|Royal Bank of Scotland Group]] free to proceed with its counter-bid for ABN AMRO.<ref>{{cite web |url=http://www.cityam.com/index.php?news=8833 |archive-url=https://web.archive.org/web/20090125174939/http://www.cityam.com/index.php?news=8833 |archive-date=25 January 2009 |title=Does RBS's acquisition of ABN AMRO really do what it says on the tin? |work=[[City A.M.]] |access-date=18 April 2011}}</ref>
Also in 2007, Barclays agreed to purchase Equifirst Corporation from [[Regions Financial Corporation]] for US$225 million.<ref>{{cite news |url=https://query.nytimes.com/gst/fullpage.html?res=9501E7D71E30F933A15752C0A9619C8B63 |title=Barclays to buy sub-prime lender |work=The New York Times |date=20 January 2007 |access-date=18 April 2011}}</ref> That year also saw Barclays Personal Investment Management announcing the closure of their operation in Peterborough and its re-siting to Glasgow, laying off nearly 900 members of staff.<ref>{{cite news |date=8 May 2014 |work=BBC News |url=https://www.bbc.com/news/business-27321589/ |title=Barclays To Cut 19,000 Jobs Over Three Years |access-date=17 July 2014}}</ref>
On 30 August 2007, Barclays borrowed £1.6 billion (US$3.2 billion) from the [[Bank of England]] sterling standby facility.<ref>{{cite news |first1=Ashley |last1=Seager |first2=Larry |last2=Elliott |first3=Julia |last3=Kollewe |name-list-style=amp|url=https://www.theguardian.com/business/2007/aug/31/money |title=Barclays admits borrowing hundreds of millions |work=The Guardian |location=UK |date= 31 August 2007 |access-date=18 April 2011}}</ref> Despite rumours about liquidity at Barclays, the loan was necessary due to a technical problem with their computerised settlement network. A Barclays spokesman was quoted as saying "There are no liquidity issues in the U.K markets. Barclays itself is flush with liquidity."<ref>{{cite news |last=Menon |first=Jon |url=https://www.bloomberg.com/apps/news?pid=20601102&sid=aqA8hFXWD3JY&refer=uk |archive-url=https://web.archive.org/web/20070930055730/http://www.bloomberg.com/apps/news?pid=20601102&sid=aqA8hFXWD3JY&refer=uk |archive-date=30 September 2007 |title=UK & Ireland |publisher=Bloomberg |date=31 August 2007 |access-date=18 April 2011}}</ref>
On 9 November 2007, Barclays shares dropped 9% and were even temporarily suspended for a short period of time, due to rumours of a £4.8 billion (US$10 billion) exposure to bad debts in the US. However, a Barclays spokesman denied the rumours.<ref>{{cite news |url=https://news.bbc.co.uk/2/hi/business/7087451.stm |title=Barclays denies bad debt rumour |work=BBC News |date=9 November 2007 |access-date=18 April 2011}}</ref>
In February 2008, Barclays bought the credit card brand Goldfish for US$70 million gaining 1.7 million customers, and US$3.9 billion in receivables.<ref>{{cite news| url=http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article3330860.ece| title=Barclays buys Goldfish as US Group calls time on credit cards| archive-url=https://web.archive.org/web/20110611162430/http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article3330860.ece |date=8 February 2008 |archive-date=11 June 2011 |first1=Miles |last1=Costello |first2=Siobhan |last2=Kennedy |work=[[The Times]] |url-access=subscription }}</ref> Barclays also bought a controlling stake in the Russian retail bank Expobank for US$745 million.<ref>{{cite news| url=http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article3473418.ece| title=Barclays seals Expobank deal in Russia| work=[[The Times]]| first1=Miles |last1=Costello| date=3 March 2008| archive-url=https://web.archive.org/web/20081008015533/http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article3473418.ece |archive-date=8 October 2008}}</ref> Later in the year Barclays commenced its [[Pakistan]] operations with initial funding of US$100 million.<ref>{{cite news| work=Pakistan Daily| url=http://www.daily.pk/business/businessnews/6078.html?task=view| title=Barclays Bank UK commences operation in Pakistan| date=25 July 2008| archive-url=https://web.archive.org/web/20080912123124/http://www.daily.pk/business/businessnews/6078.html?task=view |archive-date=12 September 2008}}</ref>
During the [[2008 financial crisis]], Barclays sought to raise capital privately, avoiding direct equity investment from the UK government, which was offered to boost its capital ratio.<ref>{{cite news |last=Lee |first=Peter |url=http://www.euromoney.com/Article/2225039/Barclays-keeps-apologizing-for-saving-the-bank.html |title=Barclays keeps apologizing for saving the bank |work=[[Euromoney]]}}</ref> Barclays believed that "maintaining its independence from government was in the best interests of its shareholders".<ref>{{cite news |date=2 April 2013 |work=The Wall Street Journal |url=http://online.wsj.com/public/resources/documents/SalzReview04032013.pdf |title=An Independent Review of Barclays' Business Practices |access-date=25 April 2014 |url-access=subscription }}</ref>
In July 2008, Barclays raised £4.5 billion through a rights issue to shore up its [[Tier 1 capital|Tier 1 capital ratio]], which involved a rights offer to existing shareholders and the sale of a stake to [[Sumitomo Mitsui Banking Corporation]]. Only 19% of shareholders took up their rights leaving investors [[China Development Bank]] and [[Qatar Investment Authority]] with increased holdings in the bank.<ref>{{cite news |url=https://news.bbc.co.uk/2/hi/business/7513178.stm |title=Barclays share sale raises £4.5bn |work=BBC News |date=18 July 2008 |access-date=18 April 2011}}</ref>
[[Reuters]] reported in October 2008 that the [[HM Treasury|British government]] would inject £40 billion (US$69 billion) into three banks including Barclays, which might seek over £7 billion.<ref>{{cite news |url=https://www.reuters.com/article/innovationNewsIndustryMaterialsAndUtilities/idUSTRE49B37P20081012?sp=true |title=British banks set for 40 billion pound rescue: sources |work=Reuters |date=12 October 2008 |first1=John |last1=Bowker |first2=Ralph |last2=Gowling |access-date=18 April 2011}}</ref> Barclays later confirmed that it rejected the Government's offer and would instead raise £6.5 billion of new capital (£2 billion by cancellation of dividend and £4.5 billion from private investors).<ref name=nytqatar/><ref>{{cite news| url=http://www.bankingtimes.co.uk/13102008-barclays-confirms-65bn-fundraising/| title=Barclays confirms £6.5bn fundraising| archive-url=https://web.archive.org/web/20081014034029/http://www.bankingtimes.co.uk/13102008-barclays-confirms-65bn-fundraising/| date=13 October 2008| archive-date=14 October 2008| work=Banking Times}}</ref>
[[File:Barclays Global Investors HQ, south side 1.JPG|thumb|The former headquarters of Barclays Global Investors in San Francisco, United States. Barclays sold Barclays Global Investors to [[BlackRock]] in 2009.]] On 12 June 2009, Barclays sold its Global Investors unit, which included its exchange-traded fund business, [[iShares]], to [[BlackRock]] for US$13.5 billion.<ref>{{cite news |agency=Press Association |url=https://www.theguardian.com/business/2009/jun/12/blackrock-to-buy-barclays-bank-arm |title=US giant BlackRock buys arm of Barclays bank |work=The Guardian |location=UK |access-date=21 February 2010 |date=12 June 2009}}</ref> Standard Life sold Standard Life Bank to Barclays in October 2009. The sale was completed on 1 January 2010.<ref>[https://news.bbc.co.uk/2/hi/business/8326313.stm Barclays buys Standard Life Bank] BBC News. 26 October 2009</ref> Barclays sold its Retail Banking unit in Spain to [[CaixaBank]] in 2014. With the sale, Caixabank acquired around 550,000 new retail and private banking clients and 2,400 employees.<ref>{{cite news| url=https://www.wsj.com/articles/caixabank-to-buy-barclays-retail-banking-in-spain-1409515069| work=The Wall Street Journal| first=Jeannette| last=Neumann| title=Caixabank to Buy Barclays Retail Banking in Spain| date=1 September 2014}}</ref><ref>{{cite news |url=http://www.ft.com/intl/cms/s/0/fae5d374-3147-11e4-8313-00144feabdc0.html#axzz3hmjgufeX|title=Barclays loses £500m on sale of Spanish business |work=Financial Times|date=September 2014 }}</ref><ref>{{cite news| url=https://www.bloomberg.com/news/articles/2014-08-31/caixabank-to-buy-barclays-spain-units-for-1-05-billion| work=Bloomberg News| first=Charles| last=Penty| title=CaixaBank to Buy Barclays's Spanish Unit for 1.1 Billion| date=1 September 2014|url-access=subscription }}</ref>
In March 2009, Barclays was accused of violating international anti-[[money laundering]] laws. According to the NGO [[Global Witness]], the Paris branch of Barclays held the account of Equatorial Guinean President [[Teodoro Obiang Nguema Mbasogo|Teodoro Obiang]]'s son, [[Teodoro Nguema Obiang Mangue|Teodorin Obiang]], even after evidence that Obiang had siphoned oil revenues from government funds emerged in 2004. According to Global Witness, Obiang purchased a [[Ferrari]] and maintains a mansion in [[Malibu, California|Malibu]] with the funds from this account.<ref>{{cite news |url= https://news.bbc.co.uk/1/hi/business/7936335.stm |title= Barclays 'corrupt regime' claim |access-date=9 March 2009 |last=Shankleman |first=Martin |date=11 March 2009 |work=BBC News |archive-url=https://web.archive.org/web/20090314035815/http://news.bbc.co.uk/1/hi/business/7936335.stm |archive-date=14 March 2009| url-status=live}}</ref>
In March 2009, Barclays obtained an injunction against ''[[The Guardian]]'' requiring it to remove from its website confidential leaked documents describing how SCM, Barclays' structured capital markets division, planned to use more than £11 billion of loans to create hundreds of millions of pounds of tax benefits, via "an elaborate circuit of [[Cayman Islands]] companies, US partnerships and [[Luxembourg]] subsidiaries".<ref>{{cite news|url=https://www.theguardian.com/business/2009/mar/17/barclays-guardian-injunction-tax |title=Barclays gags Guardian over tax |work=[[The Guardian]] |date= 17 March 2009|access-date=2 February 2012 |location=London}}</ref> In an editorial on the issue, ''The Guardian'' pointed out that, due to the mismatch of resources, tax-collectors ([[HMRC]]) now have to rely on websites such as [[WikiLeaks]] to obtain such documents.<ref>{{cite news|url=https://www.theguardian.com/commentisfree/2009/mar/17/barclays-tax-secret-documents |title=Editorial: Barclays' secret documents |work=The Guardian |date=24 January 2012 |access-date=2 February 2012 |location=London}}</ref><ref>{{cite web|url=http://weblogs3.nrc.nl/klaver/2009/03/17/guardian-moet-documenten-van-site-verwijderen/ |title=Marie-Jose Klaver " Guardian moet documenten van site verwijderen |work=NRC Handelsblad |access-date=2 February 2012 |archive-url=https://archive.today/20120802105804/http://weblogs3.nrc.nl/klaver/2009/03/17/guardian-moet-documenten-van-site-verwijderen/ |archive-date=2 August 2012 }}</ref> Separately, another Barclays [[whistleblower]] revealed several days later that the SCM transactions had produced between £900 million and £1 billion in tax avoidance in one year, adding that "The deals start with tax and then commercial purpose is added to them."<ref>{{cite news|author1=Felicity Lawrence |author2=David Leigh |author2-link=David Leigh (journalist) |url=https://www.theguardian.com/business/2009/mar/19/new-barclays-tax-whistleblower-claims |title=New whistleblower claims over £1bn Barclays tax deals |work=The Guardian |date= 19 March 2009 |access-date=2 February 2012 |location=London}}</ref>
A 2010 report by ''[[The Wall Street Journal]]'' described how [[Credit Suisse]], Barclays, [[Lloyds Banking Group]], and other banks were involved in helping the [[Alavi Foundation]], [[Bank Melli Iran|Bank Melli]], the Iranian government, and/or others circumvent US laws banning financial transactions with certain states. They did this by "stripping" information out of wire transfers, thereby concealing the source of funds. Barclays settled with the government for US$298 million.<ref>"Probe Circles Globe to Find Dirty Money", Carrick Mollenkamp, ''The Wall Street Journal'', 3 September 2010.</ref>
In February 2012, Barclays was ordered by the Treasury to pay £500 million in tax which it had tried to avoid. Barclays was accused by [[HMRC]] of designing two schemes that were intended to avoid substantial amounts of tax. Tax rules had required the bank to tell the UK authorities about its plans.<ref name="BBCFeb28">{{cite news| url=https://www.bbc.co.uk/news/business-17181213| title=Barclays Bank told by Treasury to pay £500 million avoided tax| work=[[BBC News]]| access-date=29 February 2012| date=28 February 2012}}</ref>
In October 2012 Barclays announced it had agreed to buy the ING Direct UK business of the [[ING Group]].<ref>{{cite news |title=Barclays to acquire ING Direct UK |url=https://www.bbc.co.uk/news/business-19880659 |publisher=BBC News |date=9 October 2012 |access-date=19 June 2013}}</ref> The transfer of the business to Barclays was approved at the High Court on 20 February 2013 and [[ING Direct]] was renamed Barclays Direct and would be integrated into the existing Barclays business within two years.<ref>{{cite web |url=http://www.ingdirect.co.uk/saleannouncement.asp |title=Barclays welcomes customers of ING Direct UK |website=Barclays Direct |access-date=19 June 2013}}</ref>
==== "Double Dip" tax scams ==== On 30 June 2006, [[The Wall Street Journal]] ran a front page, column one, article detailing how [[Barclays Capital]] was making a giant portion of its income not through legitimate investment banking activities but through a tax dodge, a so-called "double dip", which was essentially paid for by the British and American taxpayer.<ref name="autogenerated1">{{cite news| url = https://www.wsj.com/articles/SB115150753537093095| title = How a U.K. Banker Helps U.S. Clients Trim Their Taxes - WSJ| newspaper = Wall Street Journal| date = June 30, 2006}}</ref> It also contributed to [[Peter Mandelson]], UK [[Secretary of State for Business, Energy and Industrial Strategy|Business Secretary]], labelling Bob Diamond "the unacceptable face of banking".<ref>{{cite news |title=Lord Mandelson attacks Barclays head |url=https://news.bbc.co.uk/2/hi/8601512.stm |publisher=BBC News |date=3 April 2010}}</ref> The "Double Dip" tax scams were simple. Barclays and an American bank would loan, for example, an airline for the purchase of a jumbo jet. A subsidiary without any employees would be set up owned by Barclays and the American bank to handle the transaction, and the subsidiary would pay income tax on the interest income. The scam would come into effect when both Barclays and the American bank would claim the same full tax credit amount with their respective UK and American tax authorities, i.e. essentially Barclays' income from the scam was being paid for by British and American taxpayers without the respective governments and tax authorities knowing what was going on. Barclays was making over £1 billion a year from the practice. This practice ended after ''[[The Wall Street Journal]]'' published an exposé of the scam in a front page, column one, article on 30 June 2006 by Carrick Mollenkamp, which ensured that Parliament, the Bank of England, and the UK Inland Revenue and the American Internal Revenue Service would see it and become aware of the scam, and the practice was subsequently outlawed, thus eliminating a major source of income for Barclays. It also resulted in Diamond's reputation being tarnished with Parliament and [[The Bank of England]] and the beginning of his being branded "the unacceptable face of banking".<ref name="autogenerated1"/><ref>{{Cite web|url=https://www.theguardian.com/business/2013/feb/11/barclays-investment-banking-tax-avoidance|title=Barclays secret tax avoidance factory that made £1bn a year profit disbanded|first=Felicity|last=Lawrence|work=The Guardian |date=11 February 2013}}</ref>
==== Lehman Brothers acquisition ==== [[File:Lehman Brothers Times Square by David Shankbone.jpg|thumb|The [[745 Seventh Avenue|former headquarters of Lehman Brothers]] in New York City, now owned by Barclays]] [[File:Barclays_(49576521642).jpg|right|thumb|The New York building at night]] On 16 September 2008, Barclays announced its agreement to purchase, subject to regulatory approval, the investment-banking and trading divisions of [[Lehman Brothers]] (including its former headquarters at [[745 Seventh Avenue]]).<ref>{{cite news| last=Treanor| first=Jill| title=Barclays to buy Lehman Brothers assets| url=https://www.theguardian.com/business/2008/sep/16/barclay.lehmanbrothers1| newspaper=The Guardian| date=16 April 2013| location=London}}</ref> Bob Diamond led the effort, securing Barclays a presence in U.S. Equities and Investment Banking.<ref>{{Cite news |author1=Howard Mustoe |author2=Ambereen Choudhury |date=24 April 2013 |title=Barclays Reaps Benefit of Diamond's Purchase of Lehman in U.S. |publisher=[[Bloomberg News]] |url=https://www.bloomberg.com/news/2013-04-24/barclays-reaps-benefit-of-diamond-s-purchase-of-lehman-in-u-s-.html}}</ref> With Lehman, he and Barclays would achieve their goal of joining the bulge bracket.<ref name="junod20090911">{{Cite magazine |last=Junod |first=Tom |date=2009-09-11 |title=The Deal of the Century |url=https://www.esquire.com/news-politics/a6295/barclays-deal-of-the-century-1009/ |access-date=2025-04-29 |magazine=Esquire}}</ref>
On 20 September 2008, a revised version of the deal, a US$1.35 billion (£700 million) plan for Barclays to acquire the core business of Lehman Brothers (mainly Lehman's US$960 million [[Midtown Manhattan]] office skyscraper, with responsibility for 9,000 former employees), was approved. After a seven-hour hearing, New York [[United States bankruptcy court|bankruptcy court]] Judge James Peck ruled: {{blockquote|I have to approve this transaction because it is the only available transaction. Lehman Brothers became a victim, in effect the only true icon to fall in a tsunami that has befallen the credit markets. This is the most momentous bankruptcy hearing I've ever sat through. It can never be deemed precedent for future cases. It's hard for me to imagine a similar emergency.<ref>{{cite news |url=https://news.bbc.co.uk/2/hi/business/7626624.stm |title=Judge approves $1.3bn Lehman deal |work=BBC News |date=20 September 2008 |access-date=18 April 2011| archive-url= https://web.archive.org/web/20110512055650/http://news.bbc.co.uk/2/hi/business/7626624.stm| archive-date= 12 May 2011 |url-status=live}}</ref>}}
In the amended agreement, Barclays would absorb US$47.4 billion in securities and assume US$45.5 billion in trading liabilities. Lehman's attorney [[Harvey R. Miller]] of [[Weil, Gotshal & Manges]], said "the purchase price for the real estate components of the deal would be US$1.29 billion, including US$960 million for Lehman's New York headquarters and US$330 million for two New Jersey data centres. Lehman's original estimate valued its headquarters at US$1.02 billion but an appraisal from CB Richard Ellis this week valued it at US$900 million." Further, Barclays will not acquire Lehman's Eagle Energy unit, but will have entities known as Lehman Brothers Canada Inc, Lehman Brothers Sudamerica, Lehman Brothers Uruguay and its Private Investment Management business for high-net-worth individuals. Finally, Lehman will retain US$20 billion of securities assets in Lehman Brothers Inc that are not being transferred to Barclays.<ref>{{cite news |last=Chasan |first=Emily |url=https://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSN1932554220080920 |title=Judge approves Lehman, Barclays pact |work=Reuters |date=20 September 2008 |access-date=18 April 2011| archive-url=https://web.archive.org/web/20090626052050/https://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSN1932554220080920| archive-date=26 June 2009 |url-status= live}}</ref> Barclays had a potential liability of US$2.5 billion to be paid as [[severance package|severance]], if it chooses not to retain some Lehman employees beyond the guaranteed 90 days.<ref>{{cite news |url=https://news.google.com/newspapers?nid=1988&dat=20080921&id=wYkxAAAAIBAJ&pg=1538,1373426 |title=Judge says Lehman can sell units to Barclays |agency=[[Associated Press]] |first=Vinnee |last=Tong |date=21 September 2008 |work=[[The Argus-Press]] |location=[[Owosso, Michigan]] |page=6A}}</ref><ref>{{cite news| title=Barclays clinches deal to buy Lehman assets for $2bn| url=https://www.theguardian.com/business/2008/sep/17/barclay.lehmanbrothers| date=16 September 2008| first1=David| last1=Teather| first2=Jill| last2=Treanor| work=The Guardian}}</ref> The job of integration was given to Barclays' [[Rich Ricci]].<ref>{{cite web | url=https://www.independent.co.uk/news/people/profiles/rich-ricci-profile-most-of-those-blamed-for-the-credit-crisis-have-gone-to-ground-but-not-this-barclays-investment-banker-8546570.html | title=Rich Ricci profile: Most of those blamed for the credit crisis have | website=[[Independent.co.uk]] | date=22 March 2013 }}</ref>
In September 2014, Barclays was ordered to pay $15 million in settlement charges that alleged the bank had failed to maintain an adequate internal compliance system after its acquisition of Lehman Brothers during the [[2008 financial crisis]].<ref>{{cite news| work=Reuters| date=23 September 2014| title=Barclays to pay $15 million over compliance failures tied to Lehman deal| url=https://www.reuters.com/article/us-sec-barclays-violations-idUSKCN0HI1ZE20140923}}</ref>
==== Qatar capital raising ==== Barclays launched a further round of capital raising, approved by special resolution on 24 November 2008, as part of its overall plan to achieve higher capital targets set by the UK's [[Financial Services Authority]] to ensure it would remain independent.<ref>{{cite news |url=http://www.euromoney.com/Article/2038377/Abigail-Hofman-The-loser-list.html#strategy |title=Abigail Hofman: The loser list |work=Euromoney |date=30 October 2008}}</ref> Barclays raised £7 billion from investors from Abu Dhabi and Qatar.<ref name=nytqatar>{{cite news |url=https://www.nytimes.com/2008/11/01/business/worldbusiness/01barclays.html |title=Barclays Seeks $11.8 Billion From Abu Dhabi and Qatar |date=1 November 2008 |work=The New York Times |access-date=19 March 2016}}</ref><ref>{{cite news |url=http://www.euromoney.com/Article/2059789/Abigail-with-attitude-More-zeroes-than-heroes.html#barclays |title=Abigail Hofman: More zeroes than heroes – Barclays |work=Euromoney |date=1 December 2008}}</ref> Existing Barclays shareholders complained they were not offered full pre-emption rights in this round of capital raising, even threatening to revolt at the extraordinary meeting. Sheikh Mansour and Qatar Holding agreed to open up £500 million of their new holdings of reserve capital instruments for [[clawback]]. Existing investors now took this up.<ref>{{cite news |url=http://www.euromoney.com/Article/3198818/Barclays-Qatari-capital-raising-timeline.html |title=Barclays' Qatari capital-raising timeline |work=Euromoney |first=Erica |last=Jeffery |date=12 May 2014 |archive-date=9 November 2018 |access-date=21 May 2013 |archive-url=https://web.archive.org/web/20181109083550/https://www.euromoney.com/article/b12kjtqgg65kr2/barclays39-qatari-capitalraising-timeline }}</ref>
In January 2009, the press reported that further capital may be required and that while the government might be willing to fund this, it may be unable to do so because the previous capital investment from the Qatari state was subject to a proviso that no third party might put in further money without the Qataris receiving compensation at the value the shares had commanded in October 2008.<ref>[https://web.archive.org/web/20110611162608/http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article5570035.ece John Varley perplexed as Barclays' share price dives] ''The Times'', 23 January 2009</ref> In March 2009, it was reported that in 2008, Barclays received billions of dollars from its insurance arrangements with [[American International Group|AIG]], including US$8.5 billion from funds provided by the United States to bail out AIG.<ref>{{cite news| title=Big European Banks Benefit from AIG Bailout| url=https://www.cnbc.com/2009/03/16/big-european-banks-benefit-from-aig-bailout.html| first1=Mary| last1=Thompson| first2=Steve| last2=Liesman| date=5 August 2010| publisher=[[CNBC]]}}</ref><ref>{{cite news| first=Eamon| last=Javers| url=https://www.politico.com/story/2009/03/aig-ships-billions-in-bailout-abroad-020039| title=AIG ships billions in bailout abroad| work=[[Politico]]| date=15 March 2009}}</ref>
Barclays' share price fell 54% in June 2009 after the [[International Petroleum Investment Company]] (IPIC), which had invested up to £4.75 billion in November 2008, sold 1.3 billion Barclays shares.<ref>{{cite news| url=http://www.euromoney.com/Article/2231148/Euromoney-40th-anniversary-special-Focus-on-Ipic.html |title=Euromoney 40th anniversary special: Focus on Ipic | work=Euromoney |date=June 2009}}</ref> [[Qatar Investment Authority|Qatar Holding]] sold a 3.5% stake worth £10 billion in October 2009,<ref>{{cite news |url=http://www.euromoney.com/Article/2350993/Abigail-with-attitude-Barclays-tea-leaves.html |title=Abigail with attitude: Barclays' tea leaves |work=Euromoney |first=Abigail |last=Hofman |date=3 December 2009}}</ref> and a further sale of warrants worth around £750 million in November 2012, but remained one of the bank's largest shareholders.<ref name="Euromoney">{{cite news| first=Erica| last=Jeffery| url=http://www.euromoney.com/Article/3198818/Barclays-Qatari-capital-raising-timeline.html| title=Barclays' Qatari capital-raising timeline| work=Euromoney| date=12 May 2014| archive-date=9 November 2018| access-date=21 May 2013| archive-url=https://web.archive.org/web/20181109083550/https://www.euromoney.com/article/b12kjtqgg65kr2/barclays39-qatari-capitalraising-timeline}}</ref> In July 2012, Barclays revealed that the FSA was investigating<ref name="Euromoney"/> whether the bank adequately disclosed fees paid to [[Qatar Investment Authority]]. In August 2012, the [[Serious Fraud Office (United Kingdom)|Serious Fraud Office]] announced an investigation into the Middle East capital raising. The [[Financial Services Authority]] announced an expansion of the investigation into the Barclays-Qatar deal in January 2013, focusing on the disclosure surrounding the ownership of the securities in the bank.<ref>{{cite news| url=https://www.ft.com/content/47d412ce-6bd1-11e2-a700-00144feab49a |title=Barclays in Qatar loan probe |work=Financial Times |date=31 January 2013 |url-access=subscription }}</ref>
In October 2012, the [[United States Department of Justice]] and the [[US Securities and Exchange Commission]] informed Barclays they had commenced an investigation into whether the group's relationships with third parties who assist Barclays to win or retain business are compliant with the US [[Foreign Corrupt Practices Act]].<ref>{{cite web |url=http://reports.barclays.com/ar12/financialstatements/notes/accrualsprovisionslegalproceedingsandcontingentliabilities/30competitionandregulatorymatters.html |title=30 Competition and regulatory matters – Annual Report 2012 |publisher=Barclays.com |access-date=23 May 2013 |archive-date=3 February 2014 |archive-url=https://web.archive.org/web/20140203133114/http://reports.barclays.com/ar12/financialstatements/notes/accrualsprovisionslegalproceedingsandcontingentliabilities/30competitionandregulatorymatters.html }}</ref>
==== Rate-fixing scandal ==== {{main|Libor scandal}}
In June 2012, as a result of an international investigation, Barclays Bank was fined a total of £290 million (US$450 million) for manipulating the daily settings of London Interbank Offered Rate ([[Libor]]) and the Euro Interbank Offered Rate ([[Euribor]]). The United States Department of Justice and Barclays officially agreed that "the manipulation of the submissions affected the fixed rates on some occasions".<ref name="usdoj statement of facts">{{cite web| url=https://www.justice.gov/iso/opa/resources/9312012710173426365941.pdf | title=Statement of Facts| publisher=United States Department of Justice| date=26 June 2012| access-date=11 July 2012}}</ref> The bank was found to have made 'inappropriate submissions' of rates which formed part of the Libor and Euribor setting processes, sometimes to make a profit, and other times to make the bank look more secure during the [[2008 financial crisis]].<ref name=bbc_libor_manipulation/> This happened between 2005 and 2009, as often as daily.<ref name=cbs_libor_manipulation/>
The [[BBC]] said revelations concerning the fraud were "greeted with almost universal astonishment in the banking industry."<ref>{{cite news| first=Ian| last=Pollock| url=https://www.bbc.co.uk/news/business-18622907| title=Libor scandal: Who might have lost?| work=BBC News |date=28 June 2012| access-date=28 June 2012}}</ref> The UK's [[Financial Services Authority]] (FSA), which levied a fine of £59.5 million ($92.7 million), gave Barclays the biggest fine it had ever imposed in its history.<ref name=cbs_libor_manipulation>{{cite news| url=https://www.cbsnews.com/news/barclays-to-pay-largest-civil-fine-in-cftc-history/| title=Barclays to pay largest civil fine in CFTC history| work=CBS News| date=27 June 2012| access-date=27 June 2012}}</ref> The FSA's director of enforcement described Barclays' behaviour as "completely unacceptable", adding "Libor is an incredibly important benchmark reference rate, and it is relied on for many, many hundreds of thousands of contracts all over the world."<ref name=bbc_libor_manipulation/> The bank's chief executive [[Bob Diamond (banker)|Bob Diamond]] decided to give up his bonus as a result of the fine.<ref>{{cite news| url=http://news.xinhuanet.com/english/business/2012-06/28/c_123339718.htm| archive-url=https://web.archive.org/web/20120707001938/http://news.xinhuanet.com/english/business/2012-06/28/c_123339718.htm| archive-date=7 July 2012| title=Barclays to pay over 450 million dollars to settle charges regarding LIBOR| agency=Xinhua News Agency| date=27 June 2012| access-date=27 June 2012}}</ref> [[Liberal Democrats (UK)|Liberal Democrat]] politician [[Lord Oakeshott]] criticised Diamond, saying: "If he had any shame he would go. If the Barclays board has any backbone, they'll sack him."<ref name=bbc_libor_manipulation>{{cite news |url=https://www.bbc.co.uk/news/business-18612279|title=Barclays fined for attempts to manipulate Libor rates |work=BBC News |date=27 June 2012 |access-date=27 June 2012}}</ref> The US Department of Justice has also been involved, with "other financial institutions and individuals" under investigation.<ref name=bbc_libor_manipulation/>
On 2 July 2012, Marcus Agius resigned from the chairman position following the interest rate rigging scandal.<ref>{{cite news |agency=Reuters |title=Barclays chairman resigns over interest rate rigging scandal |url=http://profit.ndtv.com/News/Article/barclays-chairman-to-resign-over-interest-rate-rigging-scandal-307175 |access-date=2 July 2012 |newspaper=NDTV profit |date=2 July 2012 |archive-url=https://web.archive.org/web/20120704215734/http://profit.ndtv.com/News/Article/barclays-chairman-to-resign-over-interest-rate-rigging-scandal-307175 |archive-date=4 July 2012 }}</ref> On 3 July 2012, Bob Diamond resigned with immediate effect, leaving Marcus Agius to fill his post until a replacement is found.<ref>{{cite news |url=https://www.bbc.co.uk/news/business-18685040 |title=Barclays boss Bob Diamond resigns amid Libor scandal |work=BBC News |date=3 July 2012 |access-date=30 July 2012}}</ref> Within the space of a few hours, this was followed by the resignation of the Bank's chief operating officer, Jerry del Missier.<ref>{{cite news |url=http://business.inquirer.net/68943/bob-diamond-quits-as-barclays-ceo |title=Bob Diamond quits as Barclays CEO |newspaper=Philippine Daily Inquirer |date=4 July 2012 |access-date=25 April 2014}}</ref> Barclays subsequently announced that Antony Jenkins, its existing chief executive of Global Retail & Business Banking would become group chief executive on 30 August 2012.<ref>{{cite news |url=https://www.bloomberg.com/research/stocks/people/person.asp?personId=25068045&ticker=BARC:LN |title=Executive Profile Antony P. Jenkins |publisher=[[Bloomberg Business]] |date=23 June 2015}}</ref> On 17 February 2014 the [[Serious Fraud Office (United Kingdom)|Serious Fraud Office]] charged three former bank employees with manipulating Libor rates between June 2005 and August 2007.<ref name="SFO-arrests">{{cite news |url=http://www.londonmercury.com/index.php/sid/220121417/scat/fad6c6ce3bc72160/ht/Three-former-Barclays-staff-charged-for-alleged-Libor-rates-manipulation |archive-url=https://archive.today/20140218021810/http://www.londonmercury.com/index.php/sid/220121417/scat/fad6c6ce3bc72160/ht/Three-former-Barclays-staff-charged-for-alleged-Libor-rates-manipulation |archive-date=18 February 2014 |title=Three former Barclays staff charged for alleged Libor rates manipulation |work=London Mercury |date=17 February 2014 }}</ref> Four employees were jailed in July 2016 for up to six-and-a-half years, with two others cleared after a retrial.<ref>{{Cite news|url=https://www.bbc.com/news/business-39514924|title=Traders found not guilty in Libor retrial|last=Johnston|first=Chris|date=6 April 2017|access-date=28 April 2019}}</ref>
=== 2010 to 2020 === In July 2013, US energy regulator the [[Federal Energy Regulatory Commission]] (FERC) ordered Barclays to pay £299 million fine penalty for attempting to manipulate the [[electricity market]] in the US. The fine by FERC relates to allegations in December 2008.<ref>[https://www.theguardian.com/business/2013/jul/17/us-energy-regulator-barclays-fine US energy regulator orders Barclays to pay £299m fine] The Guardian 17 July 2013</ref>
In May 2014, the [[Financial Conduct Authority]] fined the bank £26 million over systems and controls failures, and conflict of interest in relation to the bank and its customers in connection to the [[gold fixing]] during the period 2004–2013, and for manipulation of the gold price on 28 June 2012.<ref name="GoldFixing">{{cite news| title=FCA fines Barclays 26mn pounds over gold price manipulation| url=http://www.thelondonnews.net/index.php/sid/222273039/scat/3a8a80d6f705f8cc/ht/FCA-fines-Barclays-26mn-pounds-over-gold-price-manipulation| access-date=23 May 2014| publisher=The London News.Net| archive-url=https://web.archive.org/web/20140525200522/http://www.thelondonnews.net/index.php/sid/222273039/scat/3a8a80d6f705f8cc/ht/FCA-fines-Barclays-26mn-pounds-over-gold-price-manipulation| archive-date=25 May 2014}}</ref>
In June 2014, the US state of New York filed a lawsuit against the bank alleging it defrauded and deceived investors with inaccurate marketing material about its unregulated trading system known as a ''[[dark pool]]''. Specifically, the firm was accused of hiding the fact that [[Tradebot]] participated in the dark pool when they were in fact one of the largest players. The state, in its complaint, said it was being assisted by former Barclays executives and it was seeking unspecified damages. The bank's shares dropped 5% on news of the lawsuit, prompting an announcement to the [[London Stock Exchange]] by the bank saying it was taking the allegations seriously, and was co-operating with the [[New York attorney general]].<ref name="BarclaysVsNY">{{cite news| title=Dark pool fraud lawsuit filed against Barclays in US| url=http://www.newyorktelegraph.com/index.php/sid/223293195/scat/3a8a80d6f705f8cc/ht/Dark-pool-fraud-lawsuit-filed-against-Barclays-in-US| archive-url=https://archive.today/20140628010744/http://www.newyorktelegraph.com/index.php/sid/223293195/scat/3a8a80d6f705f8cc/ht/Dark-pool-fraud-lawsuit-filed-against-Barclays-in-US| archive-date=28 June 2014| date=27 June 2014| work=New York Telegraph| access-date=16 August 2017}}</ref>
A month later the bank filed a motion for the suit to be dismissed, saying there had been no fraud, no victims and no harm to anyone. The New York Attorney General's office issued a statement saying the attorney general was confident the motion would fail.<ref name="BarclaysDefense">{{cite news| title=Barclays seeks dismissal of New York dark pool suit| url=http://www.thelondonnews.net/index.php/sid/224095831/scat/3a8a80d6f705f8cc/ht/Barclays-seeks-dismissal-of-New-York-dark-pool-suit| archive-url=https://archive.today/20140806065744/http://www.thelondonnews.net/index.php/sid/224095831/scat/3a8a80d6f705f8cc/ht/Barclays-seeks-dismissal-of-New-York-dark-pool-suit| archive-date=6 August 2014| access-date=25 July 2014| publisher=The London News.Net}}</ref> On 31 January 2016, Barclays settled with both the New York Attorney General's office and the SEC, agreeing to pay $70 million split evenly between the SEC and New York state, admitting it violated securities laws and agreeing to install an independent monitor for the dark pool.<ref name="BarclaysSettlement">{{cite news| title=Barclays, Credit Suisse strike record deals with SEC, NY over dark pools| url=https://www.reuters.com/article/sec-new-york-darkpools-idUSL2N15G0KS| access-date=1 February 2015| publisher=Reuters}}</ref>
To ward off the effects of [[Brexit]] Barclays borrowed £6 billion from the [[Bank of England]] between April and June 2017, as part of a post-referendum stimulus package launched in August 2016.<ref>{{Cite news |url=http://www.cityam.com/271591/barclays-and-lloyds-gbp10bn-borrowing-boost-bank-england |title=Barclays and Lloyds in £10bn BoE borrowing boost |last=Jolly |first=Jasper |date=7 September 2017 |access-date=8 September 2017 |archive-date=9 September 2017 |archive-url=https://web.archive.org/web/20170909004734/http://www.cityam.com/271591/barclays-and-lloyds-gbp10bn-borrowing-boost-bank-england }}</ref> In August 2021 Barclays announced a $400 million capital infusion into its business in India, which was the single largest capital infusion into its Indian business in three decades.<ref>{{cite web |last1=Anand |first1=Nupur |last2=Thomas |first2=Chris |title=Barclays bets on India again with $400 mln infusion for banking, wealth businesses |url=https://www.reuters.com/business/barclays-invest-more-than-400-mln-grow-india-operations-2021-08-26/ |publisher=Reuters |access-date=4 November 2021 |date=26 August 2021}}</ref>
Barclays agreed to pay $150 million to resolve an investigation by New York's banking regulator into a trading practice that allowed the bank to exploit a milliseconds-long lag between an order and its execution that sometimes hurt its clients.<ref name="WSJ_BarclaysLastLook">{{cite news| url=https://www.wsj.com/articles/barclays-to-pay-150-million-over-last-look-trading-system-1447860696| title=Barclays to Pay $150 Million Over 'Last Look' Trading System| first=Christopher M.| last=Matthews| date=18 November 2015| work=The Wall Street Journal| access-date=19 March 2016}}</ref>
Barclays announced in June 2015 that it would sell its US wealth and investment management business to [[Stifel]] for an undisclosed fee.<ref>{{cite news|author=Richa Naidu |url=https://www.reuters.com/article/us-barclayswealth-stifel-financial-m-a-idUSKBN0OO1CB20150608 |title=Stifel to buy former Lehman brokerage from Barclays |work=Reuters |date=9 June 2015 |access-date=9 June 2015}}</ref> The bank announced in May 2017 that it would sell £1.5 billion worth of shares of its [[Barclays Africa Group]] subsidiary as part of its strategy to refocus its business from Africa to the UK and US.<ref>{{Cite news|url=https://www.reuters.com/article/uk-barclays-africa/barclays-shares-rise-on-report-of-africa-stake-sale-idUKKBN18R1KL|title=Barclays set to sell 1.5 billion pound stake in Africa business|date=31 May 2017|work=Reuters|access-date=8 September 2017}}</ref> In September 2017, Barclays sold off the last part of its retail banking segment on continental Europe after selling its French retail, wealth and investment management operations to [[AnaCap Financial Partners|AnaCap]].<ref>{{Cite web|url=https://www.ft.com/content/d3970784-0bc3-3ccf-95f7-83a051e4b1cc|title=Barclays continues pullback with final exit from European retail banking|website=Financial Times}}</ref>
In June 2017, following a five-year investigation by the UK's [[Serious Fraud Office (United Kingdom)|Serious Fraud Office]] covering Barclays' activities during the [[2008 financial crisis]], former CEO [[John Silvester Varley|John Varley]] and three former colleagues, [[Roger Jenkins (banker)|Roger Jenkins]], [[Thomas Kalaris]] and [[Richard Boath]], were charged with [[Conspiracy to defraud|conspiracy to commit fraud]] and the provision of [[Financial assistance (share purchase)|unlawful financial assistance]] in connection with capital raising.<ref>{{cite news |url=https://www.bbc.co.uk/news/business-40338220 |title=Barclays charged with fraud in Qatar case |work=BBC News |date=1 January 1970 |access-date=20 June 2017}}</ref><ref>{{cite news |first=Jill |last=Treanor |url=https://www.theguardian.com/business/2017/jun/20/sfo-charges-barclays-bank-executives-ceo-2008-qatar-fundraising |title=Senior Barclays bankers charged with fraud over credit crunch fundraising |work=The Guardian |date=1 January 1970 |access-date=20 June 2017}}</ref> The executives were cleared in February 2020.<ref>{{cite news|url=https://www.bbc.co.uk/news/business-51673470|title=Former Barclays executives cleared of fraud charges|date=28 February 2020|newspaper=BBC|access-date=12 October 2022}}</ref>
In February 2018, the Serious Fraud Office charged Barclays with "unlawful financial assistance" related to billions of pounds raised from the Qatar deal.<ref>{{cite news| url=https://www.bbc.co.uk/news/business-43029731|title=Barclays Bank charged over Qatar loans| date=12 February 2018| work=BBC News| access-date=12 February 2018}}</ref>
On 8 June 2020, Barclays was accused of deceit by a British firm PCP Capital. The company sued the bank in a £1.5 billion lawsuit, claiming that it had "deliberately misled" the market over the terms of its capital raising deal with Qatar. PCP alleged that [[Qatar Holdings]] was offered a "completely different" deal than that offered to [[Mansour bin Zayed Al Nahyan]] of [[Abu Dhabi]], who according to Amanda Staveley was introduced to Barclays by PCP.<ref>{{cite news|url=https://www.ft.com/content/60847757-80bd-420f-9d5a-8e244f4a5520|title=Barclays 'misled' the market over Qatar deal, court told|access-date=8 June 2020|website=Financial Times|date=8 June 2020 }}</ref> However, during the hearing in the High Court of [[London]], the Barclays lawyer, Jeffery Onions accused Staveley of "significantly exaggerating" her business relationship with the Abu Dhabi sheikh and of creating a "hustle" by getting involved in a crucial capital raising.<ref>{{cite news|url=https://www.ft.com/content/5be8e93a-c54c-426b-8412-cb3719e291cc|title=Amanda Staveley accused of exaggerating links with Abu Dhabi|access-date=19 June 2020|website=Financial Times|date=19 June 2020 }}</ref> Staveley and PCP Capital subsequently reduced the amount of their claim but lost the case in the High Court.<ref>{{Cite news|date=26 February 2021|title=Amanda Staveley loses High Court fight with Barclays over damages|work=BBC News|url=https://www.bbc.com/news/business-56208668|access-date=27 February 2021}}</ref>
=== 2020 to present === In February 2020, it was reported that, in a pilot programme at its London headquarters, the company used [[Employee monitoring software|tracking software]] to assess how long employees spent at their desks and warn them if they took excessive breaks. Staff who spent too much time away could find this mentioned on their daily report cards. Following criticisms by staff, the bank said it had taken steps to ensure that individual data would no longer be visible to managers, although the company still holds this data."<ref>{{Cite web|url=https://www.theguardian.com/business/2020/feb/20/barlays-using-dytopian-big-brother-tactics-to-spy-on-staff-says-tuc|title=Barclays using 'Big Brother' tactics to spy on staff, says TUC|date=20 February 2020|website=The Guardian|access-date=29 March 2020|author-first1=Kalyeena|author-last1=Makortoff}}</ref>
The bank faced similar privacy concerns in 2017 when it used OccupEye sensors to track staff through black boxes in their desks.<ref>{{Cite web|url=https://www.independent.co.uk/news/barclays-bank-sensors-a7901566.html|title=Barclays installs sensors to see which bankers are at their desks|date=19 August 2017|website=The Independent|access-date=29 March 2020}}</ref>
In September 2020 Barclays invested in [[Barrenjoey Capital Partners]], an Australian investment bank startup. In May 2022 Barclays increased its stake in the firm from 9.9 percent to 18.2 percent.<ref>{{Cite web |last=Fildes |first=Nic |date=18 May 2022 |title=Barclays doubles stake in Australian investment bank Barrenjoey |url=https://www.ft.com/content/f1de6f19-df99-4826-b6b1-ebfebabe4ce7 |access-date=13 July 2023 |website=www.ft.com}}</ref>
On 31 October 2021, in a surprise move, group CEO Jes Staley agreed to step down amid investigation of his ties to the sex offender [[Jeffrey Epstein]]. He was replaced as group CEO by the Indian-born American banker [[C. S. Venkatakrishnan]], who became the first person of Indian origin to lead Barclays.<ref>{{cite web |last1=Spezzati |first1=Stefania |title=Staley to step down as Barclays CEO amid Epstein probe |url=https://www.bnnbloomberg.ca/staley-to-step-down-as-barclays-ceo-amid-epstein-probe-1.1675015 |website=[[BNN Bloomberg]] |date=1 November 2021}}</ref><ref>{{cite news |last1=Volkery |first1=Carsten |title=Neuer Barclays-Chef muss skeptische Anleger überzeugen |url=https://www.handelsblatt.com/finanzen/banken-versicherungen/banken/c-s-venkatakrishnan-neuer-barclays-chef-muss-skeptische-anleger-ueberzeugen/27760508.html?ticket=ST-3845890-bMD3fWNzuzBfhzZSZjBo-cas01.example.org |work=[[Handelsblatt]] |date=2 November 2021 |language=de}}</ref>
In January 2022, [[François Baroin]], mayor of [[Troyes]], became chairman of the French subsidiary of Barclays Bank, where he had served as an adviser since 2018.<ref>{{Cite web |date=January 20, 2022 |title=François Baroin, l’ancien président de l’AMF, nommé président de Barclays France |url=https://www.lemonde.fr/politique/article/2022/01/20/francois-baroin-l-ancien-president-de-l-amf-nomme-president-de-barclays-france_6110242_823448.html |access-date=April 12, 2026 |website=Le Monde |language=fr}}</ref>
On 1 March 2023 Barclays acquired specialist mortgage lender, Kensington Mortgages. Kensington Mortgages, based in Maidenhead, has approximately 600 employees and originated £1.9bn of mortgages during the year ended 31 March 2022.<ref>{{Cite web |last=Fowler |first=Ryan |date=1 March 2023 |title=Barclays completes deal for Kensington Mortgages |url=https://theintermediary.co.uk/2023/03/barclays-completes-deal-for-kensington-mortgages/ |access-date=4 March 2023|publisher=The Intermediary}}</ref>
In July 2023, [[Arron Banks]] said that in 2018, Barclays closed his bank accounts, including business accounts, due to his political views, including his support for [[Brexit]].<ref>{{cite web |title=Bad Boys of Brexit claim they were 'debanked' like Nigel Farage |url=https://www.thetimes.com/uk/politics/article/bad-boys-of-brexit-claim-they-were-debanked-like-nigel-farage-sqzb332df |website=[[The Times]] |date=29 July 2023 |access-date=1 August 2023}}{{Subscription required}}</ref><ref>{{cite web |title=Arron Banks claims Barclays closed his account in 2018 |url=https://www.postonline.co.uk/news/7953937/arron-banks-claims-barclays-closed-his-account-in-2018 |website=Insurance Post |date=31 July 2023 |access-date=1 August 2023}}</ref>
In February 2024, the bank announced the acquisition of [[Tesco Bank|Tesco Bank's]] credit cards, loans and savings operations, with Tesco retaining its insurance, ATMs, travel money and gift card operations.<ref>{{Cite web |title=Barclays to buy most of Tesco's banking business for £600mn |url=https://www.ft.com/content/65c35b44-6386-4cdd-a066-ed27b24b4187 |access-date=9 February 2024 |website=www.ft.com|date=9 February 2024 |last1=Quinio |first1=Akila |last2=Ralph |first2=Oliver }}</ref> The transfer was effective from 1 November 2024.<ref>Tesco Bank, ''Our proposed transfer of your account(s) and product(s) to Barclays Bank UK PLC'', July 2024</ref>
In June 2024, coordinated protests by pro-Palestinian and climate activist groups vandalised Barclays branches across several UK cities, including [[London]], [[Manchester]], [[Bristol]], [[Preston, Lancashire|Preston]], [[Glasgow]], [[Brighton]], [[Exeter]], [[Sheffield]], [[Northampton]], [[Birmingham]], and [[Solihull]]. Around 20 branches were targeted, with red paint sprayed on buildings and glass windows smashed.<ref>{{cite news |last1=Nicholls |first1=Catherine |last2=Ziady |first2=Hanna |title=British bank branches vandalized by pro-Palestinian and climate activists |url=https://edition.cnn.com/2024/06/10/business/barclays-branches-vandalized-palestine-protesters/ |access-date=30 September 2025 |work=CNN |date=10 June 2024 |language=en}}</ref><ref>{{cite news |title=Barclays banks across UK targeted by pro-Palestine protesters |url=https://www.bbc.com/news/articles/c1rrzp1qwp1o |access-date=30 September 2025 |work=BBC News |date=10 June 2024}}</ref>
In July 2024, Barclays announced selling its German consumer finance business to Austrian bank BAWAG Group AG, following the sale of its performing Italian mortgage portfolio in April, as part of the British lender's aims to simplify its business and exit European retail banking outside of the UK.<ref>{{Cite news |date=2024-07-04 |title=UK's Barclays to sell German consumer finance business |url=https://www.reuters.com/markets/deals/uks-barclays-sell-german-consumer-finance-business-2024-07-04/ |access-date=2024-07-12 |work=Reuters}}</ref><ref>{{Cite web |date=2024-05-07 |title=Barclays heads for Italy retail exit with vast RMBS |url=https://www.globalcapital.com/securitization/article/2d7cnge01hio2i55ewk5c/securitization/rmbs-europe/barclays-heads-for-italy-retail-exit-with-vast-rmbs |access-date=2024-07-12 |website=GlobalCapital Securitization}}</ref>
According to a 2024 report by [[War on Want]], Barclays has significantly increased its financial support to arms companies supplying weapons and military technology to Israel, raising its involvement by 55% since 2021. The bank holds over £2 billion in shares and provides £6.1 billion in loans and underwriting to nine such companies.<ref>{{Cite web |date=2024-05-07|title=Barclays has 'increased' Israel arms trade investments|url=https://www.middleeasteye.net/news/uk-israel-gaza-barclays-arms-trade|access-date=2025-05-30|website=Middle East Eye|language=en}}</ref><ref>{{Cite news |date=2024-05-08|title=Barclays 'substantially increased' financing of arms companies supplying Israel|url=https://www.newarab.com/news/barclays-increased-financing-israel-linked-arms-firms|work=New Arab}}</ref> Additionally, the report cited research from December 2023 that found that Barclays is Europe's sixth-largest creditor of firms operating in illegal Israeli settlements in the occupied West Bank.<ref name="BarclaysWoW">{{Cite web |date=2024-06-28|title=Barclays: Bankrolling genocide & apartheid|url=https://waronwant.org/news-analysis/barclays-bankrolling-genocide-apartheid|access-date=2025-05-26|website=War on Want|language=en}}</ref><ref>{{Cite news |last=|date=2024-02-23|title=UK banks accused of funding Israel's war on Gaza|url=https://www.newarab.com/news/uk-banks-accused-funding-israels-war-gaza|url-status=live|archive-url=https://web.archive.org/web/20250224085747/https://www.newarab.com/news/uk-banks-accused-funding-israels-war-gaza|archive-date=2025-02-24|access-date=2025-05-31|work=The New Arab|language=en-EN}}</ref> Barclays has denied investing its own money in weapons companies, stating that it only invests its clients' money and has affirmed its continued commitment to the State of Israel.<ref>{{Cite web |date=2024-08-12|title=Barclays planned to withdraw from Israeli bond auctions: Report|url=https://www.aljazeera.com/news/2024/8/15/barclays-planned-to-withdraw-from-israeli-bond-auctions-report|access-date=2025-05-30|website=Al Jazeera|language=en}}</ref><ref>{{Cite news |date=2024-05-01|title=Barclays, facing protests, says it does not invest in defence firms supplying Israel|url=https://www.reuters.com/world/uk/barclays-says-it-doesnt-invest-defence-firms-supplying-israel-2024-05-01/|access-date=2025-05-30|work=Reuters|language=en}}</ref><ref>{{Cite news |last1=Levingston|first1=Ivan|last2=Aliaj|first2=Ortenca|last3=Shotter|first3=James|date=2024-08-14|title=Barclays planned to shun Israeli bond sale under activist pressure|url=https://www.ft.com/content/4ffa7745-b765-4efb-b180-035aff3a3432|access-date=2025-05-30|work=Financial Times}}</ref>
In January 2025, [[Apple Inc.|Apple]] had talks with Barclays and [[Synchrony Financial]] about replacing Goldman Sachs as Apple's credit card partner.<ref>{{Cite news |date=January 16, 2025 |title=Exclusive: Apple in talks with Barclays, Synchrony to replace Goldman in credit card deal, sources say |url=https://www.reuters.com/technology/apple-talks-with-barclays-synchrony-replace-goldman-credit-card-deal-sources-say-2025-01-15/}}</ref>
In early February 2025, Barclays experienced a significant IT glitch that disrupted online and mobile banking services for several days. The issue began on a Friday, coinciding with payday for many UK workers and the self-assessment tax return deadline. Customers reported being unable to access their accounts, view accurate balances, or confirm recent transactions. Barclays assured customers that ATMs and card payments were unaffected, allowing cash withdrawals and purchases.<ref>{{Cite web|url=https://news.sky.com/story/barclays-tells-customers-to-contact-food-banks-as-it-glitch-disruption-enters-third-day-13300931|title=Barclays tells customers to contact food banks as IT glitch disruption enters third day|website=Sky News}}</ref>
In February 2025, The bank set aside £90 million to address potential compensation claims related to a car finance mis-selling scandal. This follows a Court of Appeal ruling that expanded the scope of the issue for lenders.<ref>{{Cite web|url=https://www.thetimes.com/business-money/companies/article/barclays-share-price-bank-finance-scandal-fj76djb5l?region=global|title=Barclays sets aside £90m for car finance scandal|first=Ben|last= Martin|date=13 February 2025|website=www.thetimes.com}}</ref>
In March 2025, Barclays informed the Treasury Select Committee that it faced having to pay up to £12.5 million in compensation due to technical outages over the last two years. This disclosure followed Barclays' outage in late January disrupting over half of all its online payments. The bank expected to pay £5–7.5 million for that incident, plus £5 million for others since 2023.<ref>{{cite news|last=Wise |first=Anna |title=Barclays to pay up to £12.5m in compensation to customers hit by outages |date=6 March 2025 |url=https://www.standard.co.uk/news/tech/barclays-meg-hillier-mps-b1214984.html |website=The Standard |access-date=6 March 2025}}</ref>
In December 2025, it was reported that Barclays were one of the bidders in the £2.5 billion [[takeover]] battle for [[Evelyn Partners]].<ref>{{Cite web |title=High street banking giants vie for £2.5bn wealth manager Evelyn |url=https://news.sky.com/story/high-street-banking-giants-vie-for-2-5bn-wealth-manager-evelyn-13487136 |access-date=2025-12-28 |website=Sky News |language=en}}</ref>
=== Environmental criticism=== In 2017, Barclays faced protests by environmentalists because of its ownership of [[Third Energy Onshore]] which planned to extract natural gas using [[hydraulic fracturing]] (fracking) at [[Kirby Misperton]] in Yorkshire. Barclays later sold Third Energy in 2020 to Alpha Energy.<ref>{{cite web |last1=Kleinman |first1=Mark |title=Barclays-backed fracker Third Energy courts rivals for cash |url=https://news.sky.com/story/barclays-backed-fracker-third-energy-courts-rivals-for-cash-11287180 |website=Sky |access-date=2 August 2020}}</ref><ref>{{cite news |last1=Twidale |first1=Susanna |title=Barclays to exit British gas fracking industry |url=https://uk.reuters.com/article/uk-britain-fracking/barclays-to-exit-british-gas-fracking-industry-idUKKCN1S122S |archive-url=https://web.archive.org/web/20190425182241/https://uk.reuters.com/article/uk-britain-fracking/barclays-to-exit-british-gas-fracking-industry-idUKKCN1S122S |archive-date=25 April 2019 |website=reuters.com |date=25 April 2019 |access-date=2 August 2020}}</ref>
In 2020, the campaign group [[ShareAction]] filed a resolution at Barclays AGM<ref>{{cite web |last1=Wearden |first1=Graeme |title=Climate change activists target Bank of England and Barclays - business live |url=https://www.theguardian.com/business/2020/feb/12/barclays-pressure-fossil-fuel-loans-asset-manager-amundi |website=theguardian.com |date=12 February 2020 |access-date=2 August 2020}}</ref> because of its role as Europe's largest funder of fossil fuel companies. Barclays invested $85 billion in fossil fuel extraction and $24 billion in expansion.<ref>{{cite web |title=Banking on Climate Change – Fossil Fuel Finance Report Card 2019 |url=https://www.banktrack.org/article/banking_on_climate_change_fossil_fuel_finance_report_card_2019 |website=banktrack.org |access-date=2 August 2020}}</ref>
==Operations== In February 2024, Group CEO, [[C.S. Venkatakrishnan]] outlined a plan to improve operational and financial performance and improve total shareholder returns by making Barclays simpler, better and more balanced.<ref name="Progress Update 2024">{{cite web| url=https://home.barclays/progress-update-2024/| title=Progress Update 2024| publisher=Barclays}}</ref><ref name="Simpler, Better, More balanced">{{cite web| url=https://home.barclays/content/dam/home-barclays/documents/investor-relations/ResultAnnouncements/FullYear2023Results/20240220-Barclays-Investor-Update-Presentation.pdf| title=Simpler, Better, More balanced| publisher=Barclays}}</ref>
As part of this strategy, Barclays was restructured into five divisions:<ref name="Structure and Leadership"/> * UK Consumer Bank – Barclays UK, a [[Ringfencing|ring-fenced]] UK retail bank (Barclays Bank UK PLC), is one of the UK's leading financial brands and includes personal and business banking operations, alongside [[Barclaycard]] UK. * Barclays UK Corporate Bank – has a relationship with over a quarter of UK Corporates, providing the financial and advisory capabilities to power the UK's SME and mid-cap businesses. * Barclays Private Bank and Wealth Management (PBWM) – comprises a UK wealth offering, offering a range of financial services, including Smart Investor, a digital investing service. The Private Bank is centred in the primary global wealth hubs, providing clients with a range of investing, banking and lending products alongside expert advice. * Barclays Investment Bank – Global Markets and Investment Banking franchises, including international corporate banking, serving multinational corporate and institutional clients globally. * Barclays US Consumer Bank – offers co-branded, small business and private label credit cards, instalment loans, online savings accounts, and CDs.
Until February 2024, Barclays operated as two divisions, Barclays UK (BUK) and Barclays International (BI), supported by a service company, Barclays Execution Services (BX).<ref name="Structure and Leadership"/> * Barclays UK consists of UK Personal Banking, UK Business Banking and Barclaycard Consumer UK businesses, carried on by a [[Ringfencing|UK ring-fenced bank]] (Barclays Bank UK PLC) and certain other entities within the Group. * Barclays International consists of the "Investment Bank" and "Consumer, Cards and Payments" businesses, which are carried on by a nonring-fenced bank (Barclays Bank PLC) and its subsidiaries, as well as by certain other entities within the Group.
===Principal divisions and subsidiaries=== Barclays' principal divisions and subsidiaries include: {{div col|colwidth=22em}}{{div col end}} * [[Barclaycard]] – global credit card business * Barclays Bank plc – UK corporate bank * Barclays Bank UK plc – UK retail bank * Barclays Bank Delaware (formerly Barclaycard US, originally Juniper Bank, acquired 2003) * Barclays Corporate * Barclays Croatia * Barclays Egypt * Barclays Execution Services * Barclays India * Barclays Indonesia<ref>{{cite news |url=https://news.bbc.co.uk/2/hi/business/7865195.stm |title=Barclays slides after downgrade |work=BBC News |date=2 February 2009 |access-date=18 April 2011}}</ref><ref>{{cite web |url=http://www.bankakita.co.id/index.php?option=com_content&task=view&id=38&Itemid=1 |title=Bank Akita News |access-date=30 December 2009 |language=id |archive-url=https://web.archive.org/web/20110721120204/http://www.bankakita.co.id/index.php?option=com_content&task=view&id=38&Itemid=1 |archive-date=21 July 2011 }}</ref> * Barclays Investment Bank * Barclays Private Clients International – subsidiary based in the [[Isle of Man]] with branches in the [[Channel Islands]] * Barclays Mauritius * [[First National Bank (South Africa)|Barclays National Bank]]: former vice chairman, [[Julian Ogilvie Thompson]]. * Barclays Pakistan * Barclays Partner Finance * Barclays Portugal (162 branches)<ref name=spain>{{cite news |url=http://uk.reuters.com/article/mergersNews/idUKL271397520080902 |archive-url=https://web.archive.org/web/20090112053142/http://uk.reuters.com/article/mergersNews/idUKL271397520080902 |archive-date=12 January 2009 |title=Barclays mulls Spanish insurance stake sale |work=Reuters |date=2 September 2008|access-date=18 April 2011 |first=Steve |last=Slater}}</ref> * Barclays Rise (fintech accelerator with locations in New York, London, Manchester, Vilnius(sold), Cape Town, Tel Aviv and Mumbai)<ref>{{Cite web|url=https://thinkrise.com/|title=Think Rise – Home|website=thinkrise.com|access-date=2 February 2017}}</ref> * Barclays Shared Services Chennai (India) * Barclays Shared Services Noida (India) * Barclays Technologies Centre China (closed) * Barclays Technologies Centre India * Barclays Technologies Centre Singapore (closed) * Barclays Technologies Centre Lithuania (closed) * Firstplus Financial Group plc * Kensington Mortgages * Barclays Private Bank
===Branches and ATMs=== [[File:Barclays Bank, Park Lane Branch - geograph.org.uk - 218753.jpg|thumb|A Barclays branch on [[Park Lane (road)|Park Lane]] in London, United Kingdom]] [[File:Le Green Hall (Vilnius) (7692990530).jpg|thumb|Former Barclays office in [[Vilnius]], Lithuania]] Barclays operates in over 40 countries, in the United Kingdom there are over 200 branches.<ref>{{cite web|url=https://home.barclays/content/dam/home-barclays/documents/investor-relations/reports-and-events/annual-reports/2024/Barclays-Bank-UK-Annual-Report-2024.pdf|title=Annual Report 2024|publisher=Barclays|access-date=25 February 2026}}</ref> In the UK, Barclays also offers some personal banking services through branches of the [[Post Office Ltd|Post Office]]. Most Barclays branches have 24/7 [[Automated teller machine|ATMs]]. Barclays customers and the customers of many other banks can use Barclays ATMs for free in the UK, although in some other countries fees are charged. Barclays is a member of the [[Global ATM Alliance]], an alliance of international banks which allows each banks' customers to use their ATM or [[debit card]] at all other member banks with no ATM access fees when travelling internationally.<ref>[http://www.atmmarketplace.com/article.php?id=1886 "Five big banks form Global ATM Alliance"] {{webarchive |url=https://web.archive.org/web/20070507142245/http://www.atmmarketplace.com/article.php?id=1886 |date=7 May 2007}}, ATMmarketplace.com. 9 January 2002. Retrieved 22 June 2007.</ref>
===Senior management===
* Chairman: Nigel Higgins (since May 2019) * Chief Executive: [[C. S. Venkatakrishnan]] (since November 2021)
[[File:001782 - Madrid (4300297578).jpg|thumb|Former [[Madrid]] headquarters at [[Torres de Colón]]]]
==== List of former group chairmen ==== ''The position of group chairman was formed in 1896, along with the formation of Barclay and Company Limited.''<ref name=":1">{{Cite web |title=Chairs and Chief Executives |url=https://www.archive.barclays.com/items/browse?type=28 |website=Barclays |access-date=25 September 2020 |archive-date=24 March 2016|archive-url=https://web.archive.org/web/20160324184726/https://www.archive.barclays.com/items/browse?type=28}}</ref>
* [[Francis Bevan]] (1896–1916) * [[Frederick Goodenough]] (1917–1934) * [[W. F. Tuke|William Tuke]] (1934–1936) * [[Edwin Fisher (banker)|Edwin Fisher]] (1937–1946) * [[Sir William Goodenough, 1st Baronet|Sir William Goodenough]] (1947–1951) * [[Anthony Tuke (1897–1975)|Anthony Tuke]] (1951–1962) * [[John Thomson (banker)|John Thomson]] (1962–1973) * [[Anthony Tuke (1920–2001)|Sir Anthony Tuke]] (1973–1981) * [[Timothy Bevan|Sir Timothy Bevan]] (1981–1987) * [[John Quinton (banker)|John Quinton]] (1987–1992) * [[Andrew Buxton]] (1993–1999) * [[Peter Middleton (banker)|Sir Peter Middleton]] (1999–2004) * [[Matthew Barrett (banker)|Matthew Barrett]] (2004–2007) * [[Marcus Agius]] (2007–2012) * [[David Walker (banker)|Sir David Walker]] (2012–2015) * [[John McFarlane]] (2015–2019)
==== List of former group chief executives ==== ''The position of group chief executive was formed in 1992; prior to that, the group chairman held executive authority over the group.<ref name=":1" />''
* [[Andrew Buxton]] (1992–1993) * [[Martin Taylor (businessman)|Martin Taylor]] (1994–1998) * [[Peter Middleton (banker)|Sir Peter Middleton]] (1998–1999) * [[Michael E. O'Neill|Michael O'Neill]] (1999) * [[Matthew Barrett (banker)|Matthew Barrett]] (1999–2004) * [[John Varley (banker)|John Varley]] (2004–2010) * [[Bob Diamond (banker)|Bob Diamond]] (2011–2012) * [[Antony Jenkins]] (2012–2015) * [[Jes Staley]] (2015–2021)
==Sponsorships== [[File:Barclays Cycle Hire, St. Mary Axe, Aldgate.jpg|thumb|right|A [[Barclays Cycle Hire]] docking station in central London]] Barclays was a long time title sponsor of the [[Premier League]] (as the FA Barclays Premiership and later Barclays Premier League) which started on the [[2003–04 Premier League|2003–04 season]] and ended with [[2015–16 Premier League|2015–16 season]].<ref>{{cite news |date=22 March 2019 |title=Barclays confirms £31 million League extension |url=https://www.sportspromedia.com/news/barclays-confirms-uk31.5m-premier-league-extension |archive-url=https://web.archive.org/web/20210519170923/https://www.sportspromedia.com/news/barclays-confirms-uk31.5m-premier-league-extension |archive-date=19 May 2021 |access-date=24 February 2021 |newspaper=Sports Pro Media}}</ref> [[Barclaycard]] previously sponsored the league (as the FA Barclaycard Premiership) from 2001 to 2004.<ref>{{cite web |date=28 September 2006 |title=Barclays secures FA Premier League sponsorship |url=http://www.sportbusiness.com/news/160512/barclays-secures-fa-premier-league-sponsorship |access-date=18 April 2011 |publisher=Sportbusiness.com}}</ref>
In 2007, Barclays agreed a 20-year naming rights agreement for $400 million for the [[Barclays Center]] in Brooklyn, New York City, home of the [[Brooklyn Nets]] basketball team. Two years later, due to the slump in the economy the deal was renegotiated to $200 million.<ref>{{cite news |date=17 January 2007 |url=http://www.ny1.com/archives/nyc/all-boroughs/2007/01/17/nets-new-arena-reportedly-to-be-called-barclays-center-NYC_65958.old.html |title=Nets' new arena reportedly to be called Barclays Centre |publisher=[[NY1]] |access-date=16 August 2017 |archive-url=https://web.archive.org/web/20170817163058/http://www.ny1.com/archives/nyc/all-boroughs/2007/01/17/nets-new-arena-reportedly-to-be-called-barclays-center-NYC_65958.old.html |archive-date=17 August 2017 }}</ref><ref>{{cite web |last1=Calder |first1=Rich |title=Barclays Center makes it official |url=https://nypost.com/2012/08/08/barclays-center-makes-it-official/ |website=New York Post |access-date=2 September 2018 |date=8 August 2012}}</ref>
Barclays sponsored the [[2008 Dubai Tennis Championships]].<ref>{{cite web |url=http://www.dubaitennischampionships.com/ |title=Dubai Tennis Championships |publisher=Dubai Tennis Championships |date=20 February 2011 |access-date=18 April 2011 |archive-url=https://web.archive.org/web/20081204233458/http://www.dubaitennischampionships.com/ |archive-date=4 December 2008 }}</ref>
Barclays was the sponsor of the [[Barclays Cycle Hire]] scheme in London from its inception in 2010 to 2015, as part of a £25 million deal with [[Transport for London]].<ref>{{cite news |url=https://www.theguardian.com/artanddesign/2010/jul/27/boris-johnson-london-cycle-hire-barclays |title=Boris Johnson's London Cycle Hire scheme flogs our birthright to Barclays |access-date=28 April 2012 |work=The Guardian |date=27 July 2010 |first=Justin |last=McGuirk}}</ref><ref>{{cite news |url=https://www.bbc.co.uk/news/10182833 |title=Barclays' £25m sponsorship of London cycle hire scheme |access-date=28 April 2012 |work=BBC News |date=28 May 2010}}</ref>
In December 2025, Barclays became the headline sponsor of [[Hampden Park]], Scotland’s national stadium.<ref>{{cite web|url=https://home.barclays/news/press-releases/2025/11/barclays-announces-multi-year-partnership-with-scotland-s-nation/|title=Barclays announces multi-year partnership with Scotland's national stadium|access-date=18 March 2026}}</ref>
In February 2026, Barclays was signed as the official banking partner of [[Williams Racing|Williams F1 Team]].<ref>{{Cite web |last=Walsh |first=Fergal |date=3 February 2026 |title=Williams bank new partner to unite 'two British icons' |url=https://racingnews365.com/williams-bank-new-partner-to-unite-two-british-icons |access-date=3 February 2026 |website=RacingNews365 |language=}}</ref>
==Coat of Arms== The [[College of Arms]] granted arms to Barclays Bank Limited with the following blazoning:<ref>{{Cite web |title='Barclays Our Story and History' |url=https://home.barclays/who-we-are/our-history/ |archive-url=https://web.archive.org/web/20221022234216/https://home.barclays/who-we-are/our-history/ |archive-date=22 October 2022 |access-date=7 November 2022}}</ref><ref>{{Cite book |last=Briggs |first=Geoffrey |title=Civic & corporate heraldry: a dictionary of impersonal arms of England, Wales, & N. Ireland |date=1971 |publisher=(10 Beauchamp Place, S.W.3), Heraldry Today |isbn=978-0-900455-21-6 |location=London |pages=48–49}}</ref>{{Infobox COA wide | image = Arms_of_Barclays_Bank.svg | year_adopted = 22 October 1937 | escutcheon = Argent, an eagle displayed sable charged on the body and on each wing with a ducal coronet of the field. }}
==See also== {{Portal|Banks|Business and economics|Companies|London}} * [[List of largest banks]] * [[List of banks in the United Kingdom]]
==Notes== {{Reflist}}
==References== * {{cite book|last1=Ackrill|first1=Margaret| last2=Hannah|first2=Leslie|date=2001|title= Barclays: The Business of Banking, 1690-1996|publisher=Cambridge University Press|isbn=978-0-521-79035-2|oclc=43562105}} * {{cite book|last=Gamble|first=Audrey Nona|title=A History of the Bevan Family|url=https://archive.org/details/historyofbevanfa00gamb|year=1924|publisher=Headley Brothers|location=London|oclc=18546896}} * {{cite book|last1=Raychaudhuri|first1=Tappan|last2=Irfan |first2=Habib|first3=Dharma |last3=Kumar|year=1983|title=The Cambridge Economic History of India {{circa|1751|1970}}|volume=2|publisher=CUP Archive |isbn=978-0-521-22802-2}}
==Further reading== * {{cite book|last1=Augar|first1=Philip|title=The bank that lived a little: Barclays in the age of the very free market|publisher=Allen Lane, an imprint of Penguin Books |location=London, UK |date=2018|isbn=978-0-241-33597-0|oclc=1038449999}} * {{cite book|last=[[Anthony Tuke (1897–1975)|Tuke]]|first=A. W.|title=Barclays Bank Limited, 1926–1969: Some Recollections|year=1972|publisher=Barclays Bank Ltd|location=London|isbn=978-0-9500442-8-6|author2=Gillman, R. J. H.}}
==External links== {{Commons category|Barclays}} * {{Finance links | symbol = BCS | sec_cik = BCS | google = NYSE:BCS | yahoo = BCS | bloomberg = BCS:US | reuters = BCS | nasdaq = BCS }} * {{official website|http://www.Barclays.com}} * {{PM20|FID=co/002559|TEXT=Documents and clippings about|NAME=}}
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