Barclays Fills Chairman Roles for Retail, Investment Banks

   By Oliver Griffin

Barclays PLC (BARC.LN) said Monday that it has appointed Ian Cheshire as chairman of Barclays Bank UK PLC, and made Gerry Grimstone chairman of Barclays Bank PLC.

Reforms introduced to strengthen the U.K. banking system in the aftermath of the 2008 financial crisis mean that Britain's largest banks must ring-fence their retail operations from their investment banks.

The bank said Mr. Cheshire will be chairman of the group's ring-fenced retail entity, Barclays Bank UK, while Mr. Grimstone will take up the role of chairman for the corporate and investment arm, Barclays Bank PLC.

Mr. Cheshire will also continue to serve as a non-executive director on the board of Barclays Bank PLC, the company said.

Barclays said previously that it will set up its ring-fenced bank in April 2018, ahead of the Jan. 1, 2019 deadline for implementing the reforms.

Write to Oliver Griffin at oliver.griffin@dowjones.com

(END) Dow Jones Newswires

March 19, 2018 07:01 ET (11:01 GMT)

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