Timpson to join board of Barclays Bank

Sir John Timpson
X The Business Desk

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Sir John Timpson, chairman of the Manchester-based shoe repair and key cutting chain, is to join the board of Barclays Bank.

Subject to regulatory approval, Sir John, who received his knighthood earlier this year for services to business and foster care, will be one of the eight independent non-executive directors of the bank.

They are all from a broad range of backgrounds, 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 board and non-executive director of Barclays.

The non-executive director appointments will take effect from January 1, 2018, subject to regulatory approval.

In addition to Sir Ian and Sir John, the Board will comprise: Executive directors – Ashok Vaswani, chief executive officer; Anna Cross, chief financial officer; independent non-executive directors – Michael Jary; Avid Larizadeh Duggan; Kathryn Matthews and Andrew Ratcliffe.

Two further appointments are planned for early next year to complete the board.
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.”