Barclays intends to create a new business group, Global Retail Banking, reported MarketWatch. The new business group is expected to comprise of its UK retail banking operations, Barclaycard credit card operations and the former GRCB Western Europe and emerging markets businesses.
The bank said that Frits Seegers, the current chief executive of GRCB, will leave Barclays, as part of restructuring of the top management. Antony Jenkins, chief executive of Barclaycard, is expected to lead the new business group, reported the source.
The bank is also planning to form a corporate and investment banking, and wealth management unit, comprising of Barclays Capital, Barclays Commercial Bank and Barclays Wealth. Frits Seegers, the currently chief executive of GRCB, is expected to leave Barclays, reported MarketWatch.
