LONDON, March 8 Barclays Plc has named
Art Mbanefo to lead a newly created unit in its investment bank
called Financial Resource Management, according to an internal
memo seen by Reuters on Wednesday.
The new unit will be responsible for improving returns and
managing financial resources inside Barclays International,
which houses the lender’s investment banking division as well as
its Barclaycard credit card business.
Mbanefo will report to the lender's new investment banking
chief Tim Throsby, the memo said.
A spokesman for Barclays declined to comment.
Mbanefo, who was most recently head of the bank's markets
business in Europe, the Middle East and Asia Pacific, will be
responsible for managing Barclays International's capital,
leverage and funding positions, according to the memo.
A year ago, the British lender created Barclays
International as one of two main business units alongside
Barclays UK, as it seeks to comply with new post-crisis rules
forcing British banks to ring-fence their retail operations from
their riskier business.
(Reporting By Lawrence White, editing by Anjuli Davies)