Barclays PLC
9 November 2000
BARCLAYS ANNOUNCES EXECUTIVE CHANGES
AND BOARD APPOINTMENTS
Following the successful completion of the acquisition of Woolwich Plc,
Barclays PLC today announces the following executive changes.
John Stewart, formerly Chief Executive of the Woolwich, joined the boards of
Barclays PLC and Barclays Bank PLC as an Executive Director and Deputy Group
Chief Executive with responsibility for the combined retail financial services
businesses of Barclays and the Woolwich on 25 October. He is also a member of
the Group Executive Committee.
John Varley, an Executive Director and formerly Chief Executive of Barclays
Retail Financial Services, is appointed Finance Director of Barclays PLC and
Barclays Bank PLC with effect from today, succeeding David Allvey who also
ceases today to be a Director of those companies. Mr Varley continues as a
member of the Group Executive Committee. In addition, Mr Varley retains his
responsibility for integration planning.
Mr Allvey will remain with the Group until 31 December, 2000, in order to
ensure an orderly hand over of his responsibilities.
Richard Meddings, formerly Executive Director and Finance Director of the
Woolwich, is appointed Group Financial Controller, reporting to Mr Varley.
Group Chairman Sir Peter Middleton said: 'On behalf of the Board, I would like
to extend our warmest thanks to David Allvey for the significant contribution
he has made during a challenging period of transition for the bank.'
Group Chief Executive Matthew Barrett said: 'The Woolwich acquisition has
brought additional management resource to Barclays and these appointments add
significant strength to our executive team as we push forward with our
transformation agenda. John Stewart and his colleagues bring fresh
perspectives as well as management skill to our retail businesses. I am also
delighted that John Varley has accepted the invitation to take on the expanded
Finance Director position. After 20 years with the Group, he brings a breadth
of experience and intimate knowledge of all Barclays businesses to this key
role.'
For further information, please contact:
Leigh Bruce Ian Roundell
Corporate Communications Director Head of Investor Relations
Tel: 020 7699 2658 Tel: 020 7699 2961
Pam O'Keeffe
Head of Corporate PR
Tel: 020 7699 2659
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