Published March 09, 2017
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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.
Re-disseminated by The Asian Banker from Reuters