Absa group chief executive Maria Ramos has been appointed to the Barclays group executive committee with immediate effect, the banking group said on Wednesday.
The appointment was part of restructuring announced by Barclays group chief executive John Varley on Tuesday.
”Previously, Absa fell under the former Barclays Global Retail and Commercial Banking [GRCB] cluster and Ms Ramos reported to GRCB chief executive Frits Seegers,” Absa said in a statement.
”GRCB, in its current form, will cease to exist and Seegers will be leaving the Barclays Group to pursue other opportunities outside of Barclays.”
Ramos, who remained Absa CEO, would now report directly to Varley.
”The structural changes will also see the formation of a new business grouping, to be called Global Retail Banking [GRB], comprising UK Retail Banking, Barclaycard and the former GRCB Western Europe and emerging markets businesses.”
Antony Jenkins, previously CEO of Barclaycard, had been appointed CEO of GRB, reporting to Varley.
Jenkins, a non-executive director of Absa, would also sit on the Barclays group executive committee.
A second new business grouping, to be called Corporate and Investment Banking and Wealth Management, comprising Barclays Capital, Barclays Commercial Bank and Barclays Wealth, would be led by group president Robert Diamond Jnr.
Ramos said the new Barclays structure supported Absa’s goal of creating one seamless Absa, ”which will function in an integrated manner to improve operational efficiency and service to customers”.
Absa remained a member of the Barclays Group with its own mandate to manage its businesses. — Sapa