Barclays makes Spinningfields switch
BARCLAYS has confirmed its move to Manchester’s Spinningfield’s business district.
The banking giant originally signed a deal for 80,000 sq ft at 3 Hardman Street – the newest building in the development – for its Barclaycard operation, but later had a change of heart.
Today it has announced a 15-year lease for 36,000sq ft of space which will be occupied by its Commercial Banking division, which is relocating 270 people from offices around Manchester.
The move will bring together sales and operations staff from five Barclays divisions currently located at Marsden Street, Mosley Street and Salford Quays.
Led by Michael Hartig, head of Barclays Commercial Bank in Manchester, the new office will house approximately 170 staff from Barclays Commercial Bank plus another 100 staff representing Trade; Barclays Sales and Asset Finance; Barclays Capital; and Barclays Ventures.
Mr Hartig said: “Our move to Spinningfields is one of the biggest investments we have made in Manchester and also marks the merger of our two Commercial Banking teams.
“The new office will offer an excellent environment for both our staff and customers in Manchester enabling us to bring together our existing banking operations under one roof while remaining close to the traditional heart of Manchester’s business community.”
“Manchester has always been an important commercial centre for Barclays and this move demonstrates we remain active in the market despite challenging economic conditions.
“The investment reinforces our confidence in the business opportunities in Manchester and our desire to support our customers through these challenging times.
“Our aim is to be the first choice banking provider to corporates in the City and we will be progressing this goal with vigor throughout the remainder of 2009 and beyond.”
The merger of the commercial operations sees the bank’s former Financial Sponsors Group and the Corporate Leveraged Finance Team operating under a new name, Strategic Debt Finance, which will be led by Glenn Clarke.
The unit will support buy outs and acquisitions in the public, private and private equity arena.
Work on the relocation has already begun and is scheduled to be completed by the end of the year.
