Sir John Timpson CBE
The retail magnate is set to join the board of Barclays Bank UK PLC, Barclays’ future ring-fenced bank, subject to regulatory approval.
Sir John, who received a knighthood earlier this year for services to business and foster care, will be one of the eight independent non-executive directors of Barclays Bank UK PLC, all of whom come from a broad range of backgrounds, and who have been appointed to bring a diverse range of experience and perspectives.
The new board has been created in readiness for ring-fencing legislation which will see the Barclays UK business transfer from Barclays Bank PLC to a separate legal entity, Barclays Bank UK PLC. The transfer is expected to take place in April 2018, subject to court approval. The board will, on separation, assume responsibility for the Barclays UK business.
The search for board members has been led by Sir Ian Cheshire, chairman of the Barclays Bank UK PLC board and non-executive director of Barclays PLC. The non-executive director appointments will take effect from 1 January 2018, subject to regulatory approval.
Sir Ian Cheshire said:“Barclays UK has a financial relationship with 24 million customers and clients in every community in the UK. It is therefore crucial that we have a Board not only of the highest calibre, but of diverse perspectives and broad experience.
“My board colleagues bring a wealth of experience and insight to the bank and embody the highest standards of corporate governance and oversight. I look forward to working with them as we help Barclays UK continue to meet the aspirations of our customers and clients.”
The Barclays UK business comprises retail banking (including premier and mortgages), business banking, wealth and investment management UK and Barclaycard UK.
Two further appointments are planned for early next year to complete the board.