Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Barclays    BARC   GB0031348658

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Barclays : UK government appoints Brexit backer as City minister

share with twitter share with LinkedIn share with facebook
share via e-mail
0
06/14/2017 | 12:43pm CET

Prime Minister Theresa May has appointed Brexit supporter Stephen Barclay as "City minister" to oversee a financial services sector facing upheaval as Britain prepares to leave the European Union.

Barclay, whose formal title is economic secretary to the treasury, is likely to be responsible for financial services policy and the government's relationship with firms such as banks, insurers and asset managers.

Before he was elected to parliament in 2010, Barclay worked in financial regulation and then financial crime prevention at Barclays retail bank, according to his website. A lawyer by training, he supported leaving the EU at last year's referendum.

Banks, trading platforms, insurers and asset managers in London are already making plans to open new bases in other parts of the EU, fearing a loss of access to the single market after March 2019 when Britain is due to leave the bloc.

"His appointment comes at a time when the City's voice must be heard loud and clear," a City of London Corporation spokeswoman said.

Barclay's experience in financial services will come as a relief after his predecessor, Simon Kirby, who lost his seat in last week's general election, dismayed the sector for having too little knowledge of finance at a critical time.

"A good appointment to key role in HM Treasury," tweeted Mark Hoban, a former City minister who heads a City-based group looking at how financial services can adapt to Brexit.

The return of a minority government in last week's election has raised hope in the financial sector for a "softer" Brexit, meaning some access to the EU market would be maintained.

As City minister, Kirby had been stripped of his remit in overseeing the impact of Brexit on Britain's large banking sector, a role handed to Lucy Neville-Rolfe, who quit this week.

A finance ministry spokeswoman said the exact responsibilities of junior finance ministers had not been finalised.

(Reporting by Kylie MacLellan and Huw Jones; editing by Guy Faulconbridge)

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on BARCLAYS
11/18 Italian lender Carige seals backing for vital cash call
11/17 Italy's Carige set to seal backing for crucial cash call - source
11/17 BANK HAPOALIM : iShares Barclays 1-3 Year Credit Bond Fd (CSJ) Shares Sold by Ba..
11/17 BARCLAYS : London fintech startup links with Barclays to test digital receipts
11/17 BARCLAYS : | Barclays warns UK faces most fraudulent online Christmas ever
11/17 BARCLAYS : Form 8.3 - SPIRE HEALTHCARE GROUP PLC
11/17 BARCLAYS : Form 8.3 - MEDICLINIC INTERNATIONAL PLC
11/17 BARCLAYS : warns UK faces most fraudulent online Christmas ever
11/17 BARCLAYS : Form 8.5 (EPT/NON-RI) - TESCO PLC
11/17 BARCLAYS : Form 8.5 (EPT/NON-RI) - SKY PLC
More news
News from SeekingAlpha
11/03 Another Wall Street money machine grinds to a halt
10/26 FINANCIALS - TOP 5 GAINERS / LOSERS : 40 pm
10/26 Time yet to panic for Barclays' Staley?
10/26 Barclays Plc (BCS) Q3 2017 Results - Earnings Call Transcript
10/26 Barclays PLC 2017 Q3 - Results - Earnings Call Slides
Financials ( GBP)
Sales 2017 21 384 M
EBIT 2017 6 474 M
Net income 2017 -351 M
Debt 2017 -
Yield 2017 1,65%
P/E ratio 2017 -
P/E ratio 2018 11,80
Capi. / Sales 2017 1,47x
Capi. / Sales 2018 1,42x
Capitalization 31 532 M
Chart BARCLAYS
Duration : Period :
Barclays Technical Analysis Chart | BARC | GB0031348658 | 4-Traders
Technical analysis trends BARCLAYS
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 21
Average target price 2,13  GBP
Spread / Average Target 15%
EPS Revisions
Managers
NameTitle
James Edward Staley Chief Executive Officer & Director
John McFarlane Non-Executive Chairman
Paul H. Compton Group Chief Operating Officer
Tushar Morzaria Group Finance Director & Executive Director
Reuben Jeffery Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
BARCLAYS-17.21%41 661
JP MORGAN CHASE & COMPANY13.73%340 519
INDUSTRIAL AND COMMRCL BANK OF CHINA LTD34.01%314 244
BANK OF AMERICA20.45%277 663
WELLS FARGO-1.74%266 844
CHINA CONSTRUCTION BANK CORPORATION25.74%235 330