Ian Stuart to focus
exclusively on sales at Barclays Corporate.
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Barclays Asset & Sales Finance
(BA&SF) has undergone a major reshuffle of its top management
as it seeks to expand globally and work more closely with its
parent’s corporate arm,Leasing Life has learned.
Ian Stuart has given up full-time
responsibility for BA&SF to concentrate on a key sales role at
Barclays Corporate.
Overall responsibility for the division has
now fallen to John Kelting, who was recently appointed head of the
newly formed products arm of Barclays Corporate.
BA&SF now falls under the products
umbrella, which also includes cash management, trade management and
structured finance.
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By GlobalDataAlex Brown, head of asset finance, and John
Bevan, who runs sales finance, both now report to Kelting.
Brown said: “The product division has brought
together all the product-related business, which asset finance and
sales finance quite clearly fit into.
“The idea is we are now working very closely
with corporate coverage sales people and regional teams around the
country.”
The products arm forms part of Barclays
Corporate, formerly Barclays Commercial.
Barclays Corporate now works with the high end
of what used to be Barclays Commercial’s clientele, including
financial institutions, public sector entities and corporate
clients.
Stuart, who previously headed up both
BA&SF and sales at Barclays Corporate, is now only responsible
for the latter, along with Wyatt Crowell.
This role sees Stuart working as head of a
team of relationship directors and managers, selling products to
Barclays Corporate’s clients.
Bevan said: “We have quite a large exposure to
Ian Stuart and his teams across the UK – we still speak to him
regularly.”
Following the changes, there are now plans for
both asset and sales finance to expand globally.
Brown said: “We are now co-owners of our
separate businesses globally along with the relevant country heads
and it is that global franchise which is of huge excitement going
forward.”
Bevan added: “From a sales finance
perspective, we already have a product footprint across Europe and
we want to build on that and take in new markets.”
They will be working closely with existing
colleagues in Italy, Spain and Portugal to establish what their
growth plans are as well as to find “synergies in other markets
where there is growth potential”.
Bevan said: “It is sharing product expertise
across those areas. By doing that, we can build capability on the
back of that.”
There are also plans to recruit new staff as
growth continues, in order to increase head count where necessary
and “bring in new skill sets”.
Barclays Corporate is already operating in
more than 20 countries across Europe, North America, Asia Pacific,
Africa and the Middle East, and Robert Diamond, president of
Barclays and CEO of CIB, said it has “great prospects around the
globe”.
Following a rocky 2009, which saw a 10 per
cent fall in total assets in the bank’s commercial arm, 2010 is
looking much brighter at the end of the first quarter, according to
Brown.
