Barclays reshuffles top management, Matt Hammerstein to become CEO of Barclays UK

Maria Nikolova

Ashok Vaswani, currently CEO of Barclays UK, will take on a newly created role within the Group as Global Head of Consumer Banking & Payments.

Barclays PLC (LON:BARC) has earlier today announced a raft of changes at the top. The bank explains that the reshuffle is intended to “help the business capitalise on its strengths as a diversified consumer and wholesale bank”.

Ashok Vaswani, currently CEO of Barclays UK (BUK), will take on a newly created role within the Group as Global Head of Consumer Banking & Payments, reporting to Group CEO, Jes Staley.

In his new role, Mr Vaswani will oversee the execution of plans for the Group’s consumer banking and cards & payments businesses in the UK and internationally, and is tasked with ensuring that Barclays:

  • a) delivers the benefits of innovation, and fast moving developments in technology and infrastructure, to support its customers – wherever they happen to be in the world;
  • b) capitalises fully on our Group-wide strengths as consumer bankers, including in building out our global payments offering and capability; and
  • c) drives greater connectivity and synergies across our consumer banking and payments franchise.

Matt Hammerstein, currently Head of Retail Lending, will be appointed as the new CEO of Barclays UK. This appointment has to secure regulatory approval. Mr Hammerstein will report principally to Jes Staley and will join the Barclays Group Executive Committee.

Jes Staley will also now assume the role of interim CEO of Barclays Bank PLC, the legal entity which houses all of the Group’s non-ring fenced businesses (Barclays International), in addition to being Group CEO.

As a consequence of the changes announced today, Tim Throsby, CEO of Barclays International & Barclays Bank PLC, has decided to leave the company.

Commenting on the changes, Group CEO, Jes Staley, said:

“We are – today – the Transatlantic Consumer and Wholesale Bank, with global reach, which we set out to shape when we embarked on our strategy in March of 2016. Restructuring is behind us, our major legacy issues are largely dealt with, and our focus now is on running and growing our business, and pursuing improved returns in line with our stated targets.

“To aid that agenda, I am making some leadership changes to ensure a much stronger and closer focus on the two respective hemispheres of our diversified Group – our Consumer and Wholesale businesses.”

Read this next

Digital Assets

SEC apparently approved Ether ETF as VanEck’s listed by DTCC

Amid increasing speculation about the possible approval of a spot Ether (ETH) exchange-traded fund (ETF) in the United States, global investment manager VanEck’s ETF has been listed by the Depository Trust and Clearing Corporation (DTCC) under the ticker symbol “ETHV.”


Unlocking Investment Potential: Introducing MoonBag Presale, the Cryptocurrency Set to Surpass ApeCoin and Bitbot

Discover MoonBag Presale, the cryptocurrency set to surpass ApeCoin and Bitbot. Unlock your investment potential now!


Playtech sees promising growth despite dispute with Caliplay

Gambling technology group Playtech plc (LSE: PTEC) reported solid financial results for the four months to April 30 as B2B growth and Snaitech’s record performance pushed it towards large gains in revenue.


Multipool Launches LBP on Fjord Foundry Raising $200k in 24 Hours

Multipool, a leading innovator in the blockchain and cryptocurrency industry, launched their Fjord Foundry LBP on May 21st, raising $200k in the first 24 hours.


$BEER, a New Solana-Based Memecoin completes Pre-Sale of 30,000 SOL this week

The Liquid Gold, $BEER, has become the most discussed topic on Solana over the past two weeks. $BEER has skyrocketed into Twitter trends across Europe & Asia, captivating beer lovers worldwide.

Digital Assets

Hong Kong regulator orders Worldcoin to cease operations over privacy concerns

Hong Kong’s privacy regulator has ordered Worldcoin Foundation to cease all operations of its cryptocurrency project in the city, citing risks to privacy and personal data.

Inside View

MT4 vs MT5: Which Should You Choose for Crypto Trading?

MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are two sophisticated trading platforms developed by MetaQuotes Software. Although MT4 is the more widely adopted choice, traders must determine which platform is better suited for them and understand the reasons behind this choice. Here’s everything you need to know.

Digital Assets Launches Intent-Centric Architecture and Marketplace

Discover how, formerly Kiroboflow, is revolutionizing blockchain interactions with its Intent-Centric Architecture and new marketplace for intent-based strategies.

Digital Assets

Crypto ETFs, retail trading spike as Bitcoin nears record highs

BlackRock’s spot bitcoin exchange-traded fund (ETF), which trades under the ticker IBIT on Nasdaq, saw a record amount of cash injection after a quiet few weeks of net outflows. The healthy metrics came as bitcoin briefly traded above the $71,000 level for the first time in a month.