Barclays

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Barclays PLC

logo
legal form public limited company
ISIN GB0031348658
founding 1690
Seat London , UKUnited KingdomUnited Kingdom 
management John McFarlane (Chairman)
Jes Staley (CEO)
Number of employees 83,500
sales 21.1 billion  £ (2018)
Branch Universal bank
Website www.barclays.com
As of December 31, 2018

Bank headquarters in Canary Wharf, London
Plaque for the establishment of the first ATM in the world in Enfield recalls
Branch in Madrid: the Torres de Colón - the skyscraper was voted one of the ugliest buildings in the world

The Barclays PLC is an international financial company from the UK . Barclays is the third largest bank in the UK. At the end of 2016, it employed 119,300 people worldwide.

The institute is headquartered at Churchill Place in Canary Wharf , in the Docklands of London (previously on Lombard Street in downtown London until May 2005 ). Barclays is headquartered in the US on Park Avenue in New York City .

The bank is one of the 30 major banks that the Financial Stability Board (FSB) as "systemically important financial institution" ( systemically important financial institution ) were classified. It is therefore subject to special monitoring and stricter requirements for the endowment with equity .

In a study published in 2011 at ETH Zurich , Barclays was named the most influential company in the world economy.

history

The company's history dates back to 1690 when John Freame and Thomas Gould, both Quakers , started out as goldsmith bankers on Lombard Street in the City of London . Commercial banking arose in England with goldsmiths who went on to keep their customers' gold and valuables in safe custody.

In 1728 the bank moved to 54 Lombard Street, bearing a black eagle with outspread wings. This symbol became the hallmark of the bank in the years that followed

The name Barclay was first used in connection with the banking house in 1736 when James Barclay, John Freame's son-in-law, was accepted as a partner.

From 1776 to 1785 the bank operated as Barclay, Bevan and Bening .

The banking house gained its wealth during the colonial period .

Original design of the Barclaycard between 1966 and 1983

Under the Barclaycard label , Barclays launched the first credit card in the UK in 1966 . Barclays has 21.2 million credit card customers worldwide, of which 10.8 million are in the UK and 10.4 million in the rest of the world.

The world's first ATM was installed in 1967 by the Barclays branch in Enfield (now a borough of Greater London ).

In early October 2008, as part of the financial crisis , Barclays undertook capital raising measures totaling 6.5 billion pounds - 2 billion of which were through the cancellation of the dividend and 4.5 billion in the form of equity investments by institutional investors. Of the 4.5 billion pounds, 3.5 billion pounds come from the International Petroleum Investment Company (IPIC), a sovereign wealth fund from the Emirate of Abu Dhabi . On June 2, 2009, IPIC sold a £ 3.5 billion stake in its then acquired stake, equivalent to 11% of Barclays' share capital.

In 2009, the investment subsidiary Barclays Global Investors (BGI) was taken over by the US financial company BlackRock for $ 13.5 billion. It paid $ 6.6 billion in cash and $ 6.9 billion in shares. BlackRock's assets under management are approximately $ 2,700 billion.

Barclays held a 20 percent stake in BlackRock until May 2012.

In 2011, the Barclays Private Equity department was spun off as Equistone Partners Europe through a management buy-out .

Share and shareholders

The shares are listed on the London Stock Exchange and the NYSE ; they are included in the FTSE 100 index .

Barclays shares are in free float. The following shareholders each own 3% or more of the company shares (as of March 2019):

LIBOR manipulations

27 June 2012 Barclays was by the British Financial FSA and the Ministry of Justice and the US Commodity Futures Trading Commission imposed a record fine of 450 million dollars, because the bank the important reference rates LIBOR and EURIBOR have for years routinely manipulated to trading profits achieve. Ed Miliband , leader of the UK Labor Party , said the financial system was "institutionally corrupt" and called for the bankers responsible to be prosecuted. He explained that it couldn't be done with a pat on the hand and foregoing a bonus. However, the British Treasury Secretary George Osborne confirmed that the FSA did not have sufficient powers to prosecute the manipulation. Due to the scandal, Marcus Agius , head of the Barclays board of directors, announced his withdrawal from the company on July 2, 2012 ; a day later, CEO Bob Diamond and COO Jerry del Missier resigned from their offices with immediate effect. In a document dated July 3, 2012, the bank publicly expressed its view of the incidents, regretted them and admitted that they should never have happened.

Gold price manipulation

In May 2014 the Financial Conduct Authority (FCA) fined Barclays to a fine of £ 26 million for tampering with the gold fixing . Barclays is the first bank to be fined for manipulating the price of gold.

criticism

In 2012, Barclays won the Public Eye Award for being the fastest growing food speculator, allegedly driving food prices up at the expense of the poor.

At the beginning of 2014, the bank announced that it would cut 12,000 jobs internationally. At the same time, bonus payments will be increased by 13 percent to 1.57 billion pounds in the investment area. While profits in this area fell 37 percent to £ 2.5 billion.

X1 bankruptcy: Barclays Bank is the issuer of the X1 certificate. With this certificate, investors could invest in the K1 hedge fund of the financial fraudster Helmut Kiener . The bankruptcy of the K1 hedge fund also led to the complete failure of the X1 certificate. In total, the bank has collected around 250 million euros from investors in connection with Kiener funds. To this day, the bank rejects any responsibility for your X1 product. Damaged investors are suing Barclays in the courts.

Half a year after the "X1 bankruptcy" became known, Barclays paid out 1.5 billion pounds (1.9 billion euros) in bonus payments to employees.

Trivia

The bank's branch in Madrid , the Torres de Colón (built in 1976 for Rumasa under the direction of Antonio Lamela ), was voted one of the ten ugliest buildings in the world by the travel bloggers of the Internet project Virtualtourist in 2008.

See also

Web links

Commons : Barclays  - collection of images, videos and audio files

bibliography

  • Margaret Ackrill; Leslie Hannah: Barclays - The Business of Banking 1690-1996. Cambridge UP, 2001 ISBN 0-521-79035-2

Individual evidence

  1. ↑ Leadership team. Retrieved March 5, 2019 .
  2. ↑ a b Annual Report 2018. Accessed March 5, 2019 .
  3. ↑ Barclays Bank - Balance Sheet - P&L - ARIVA.DE. Retrieved September 11, 2017 .
  4. ^ Policy Measures to Address Systemically Important Financial Institutions. In: Financial Stability Board (FSB) of November 4, 2011 (PDF file; 105 kB)
  5. ↑ Update of the group of global systemically important banks (G-SIBs) (PDF; 102 kB) from November 1, 2012
  6. ↑ 147 companies control the world In: Frankfurter Rundschau of October 24, 2011
  7. ↑ NZZ of March 28, 2007 ( Memento of February 12, 2009 in the Internet Archive )
  8. ↑ Barbara Müller: Resistance to Barclays. ( Memento from July 8, 2010 in the Internet Archive ) In: Finanzplatz Informations 3/2005 (PDF; 61 kB)
  9. ↑ http://www.accesscreditcard.info/history66-72.aspx
  10. ^ Gill Montia: Barclays confirms £ 6.5bn fundraising. ( Memento of October 14, 2008 in the Internet Archive ) October 13, 2008
  11. ↑ Handelsblatt : Finanzunternehmen - Blackrock buys Barclays Asset Management from June 12, 2009
  12. ↑ ftd.de :: bgi-uebernahme-blackrock-wird-grossaktionaer-ueber-nacht / 50048448.html BGI takeover - Blackrock becomes a major shareholder overnight ( memento of June 13, 2006 in the Internet Archive ). December 9, 2009
  13. ↑ Barclays sells stake in Blackrock , on www.handelsblatt.com
  14. ^ Barclays to Sell Equistone Private Equity Unit. Bloomberg, November 11, 2011, accessed December 26, 2012 .
  15. ↑ BARCLAYS (BARC). 4-traders, accessed March 5, 2019 .
  16. ↑ a b Libor manipulations at Barclays, call for penalties for traders Neue Zürcher Zeitung , June 29, 2012.
  17. ↑ British politicians criticize the banking sector as corrupt. Welt Online, June 30, 2012, accessed July 3, 2012 .
  18. ↑ Bettina Schulz: Interest rate manipulation scandal: Barclays boss Diamond resigns. FAZ, July 3, 2012, accessed on July 3, 2012 .
  19. ↑ Board changes , press release on Barclays.com, July 3, 2012 (English)
  20. ^ Barclays today announces the resignation of its Chief Operating Officer, Jerry del Missier with immediate effect. Barclays, July 3, 2012, accessed July 3, 2012 .
  21. ↑ Supplementary information regarding Barclays settlement with the Authorities in respect of their investigations into the submission of various interbank offered rates (AMENDED). Barclays, accessed July 6, 2012 (PDF).
  22. ↑ Carsten Herz: The dealer and the quick gold. For manipulating the Gild price, the financial supervisory authority imposes a million dollar fine on Barclays , in: Handelsblatt , No. 100 of May 26, 2014, p. 31.
  23. ↑ Public Eye Awards: Barclays and Vale voted worst company. ( Memento of November 27, 2013 in the Internet Archive ) In: www.greenpeace.de , January 27, 2012
  24. ↑ http://www.tagesschau.de/wirtschaft/barclays-stellen100.html ( Memento from February 22, 2014 in the Internet Archive )
  25. ↑ JUVE- www.juve.de: Setback for investors: Linklaters client Barclays is not liable for Kiener certificates «JUVE. Retrieved March 5, 2019 .
  26. ↑ FOCUS Online: Barclays tip waived bonuses. Retrieved March 5, 2019 .
  27. ↑ Construction sins ranking: Travel bloggers choose the ugliest buildings in the world. Spiegel Online, November 21, 2008, accessed July 4, 2012 (Part 2).