Mission statement

Barclays strategy is to achieve good growth through time by diversifying its business base and increasing its presence in markets and segments that are growing rapidly.

This is driven by the Group’s ambition to become one of a handful of universal banks leading the global financial services industry, helping customers and clients throughout the world achieve their goals.

"The strategy is based on the principles of earn, invest and grow.

Supporting this are four strategic priorities:

• Build the best bank in the UK
• Accelerate the growth of global businesses
• Develop retail and commercial banking activities in selected countries outside the UK
• Enhance operational excellence.

Barclays five guiding principles are key to the way the business operates:

• Winning together – achieving collective and individual success
• Best people – developing talented colleagues to reach their full potential, to ensure Barclays retains a leading position in the global financial services industry
• Customer and client focus – understanding customers and serving them brilliantly
• Pioneering – driving new ideas, adding diverse skills and improving operational excellence
• Trusted – acting with the highest integrity to retain the trust of customers, external stakeholders and colleagues.

Company history

The late 17th century the streets of the City of London were filled with goldsmith-bankers. They provided monarchs and merchants with the money they needed to fund their world-wide ventures. One such business was founded by John Freame and his partner Thomas Gould in 1690. In 1728, the bank moved their operations to 54 Lombard street to a premises marked with a black spread eagle (at the time, few people could read or write and so many buildings were marked with images instead of numbers or letters). The logo been associated with the company ever since. The name Barclay became associated with the company in 1736 when James Barclay who had married John Freame's daughter became a partner. Private banking businesses were commonplace in the 18th century. Clients’ gold deposits were kept secure and credit-worthy merchants received loans. In 1896, 20 such businesses collaborated and formed a joint-stock bank. The leading partners of the new bank, which was named Barclay and Company, were already connected by a web of family, business and religious relationships. The company became known as the Quaker Bank reflecting the tradition of the founding families.

The new bank had 182 branches, mainly in the east and south-east of England. Deposits totalled £26 million - a substantial sum of money in those days. Barclay and Company expanded its branch network rapidly through bank acquisitions. Acquisitions included Bolithos in Cornwall and the south-west in 1905 and United Counties Bank in the Midlands in 1916. In 1918, the bank amalgamated with the London, Provincial and South Western Bank to become one of the UK's 'big five' banks. By 1926 the bank had 1,837 branches.

The development of Barclays global business today began in earnest in 1925, with the merger of three banks - the Colonial Bank, the Anglo Egyptian Bank and the National Bank of South Africa. Barclays international operations were born adding businesses in much of Africa, the Middle East and the West Indies.

In 1981, Barclays became the first foreign bank to file with the US Securities and Exchange Commission and raise long-term capital on the New York market. In 1986 it became the first British bank to have its shares listed on the Tokyo and New York stock exchanges.

Barclays global expansion was given added impetus in 1986 with the creation of an investment banking operation, which today is known as Barclays Capital. In 1995, Barclays purchased the fund manager Wells Fargo Nikko Investment Advisers. The business was integrated with BZW Investment Management to form Barclays Global Investors.

In July 2003, Barclays completed the acquisition of Banco Zaragozano, one of Spain's largest private sector banking groups, which was founded in 1910.

In July 2005, Barclays Bank PLC announced the completion of a landmark deal that saw the company acquire a majority stake of Absa Group Limited. Absa is South Africa’s largest retail bank with over seven million customers.

In 2008 Barclays Capital acquired Lehman Brothers' North American investment banking and capital markets businesses. This acquisition cemented Barclays Capital position for its clients with a leading presence in all major markets and across all major lines of business including equities, credit, fixed income, mergers and acquisitions, commodities trading and foreign exchange.

Today, Barclays has grown from a group of English partnerships to a global bank represented in Europe, the USA, Latin America, Africa, the Caribbean, Asia, the Middle East and Australasia.

 

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