Barclays 2004 Annual Report Download - page 91

Barclays PLC Annual Report 2004
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UK Banking
UK Banking delivers banking solutions to Barclays UK retail and
business banking customers. It offers a range of integrated products
and services and access to the expertise of other Group businesses.
Customers are served through a variety of channels comprising: the
branch network, automated teller machines, telephone banking,
online banking and relationship managers. UK Banking is managed
through two business areas, UK Retail Banking and UK Business
Banking.
UK Retail Banking
UK Retail Banking comprises Personal Customers, Mortgages, Small
Business and UK Premier. The bringing together of these businesses
enables the building of broader and deeper relationships with both
existing and new customers. Personal Customers and Mortgages
provide a wide range of products and services to over 14 million retail
customers, including current accounts, savings, mortgages, and
general insurance. Small Business provides banking services to 566,000
small businesses. UK Premier provides banking, investment products
and advice to some 273,000 affluent customers.
UK Business Banking
UK Business Banking provides relationship banking to the Group’s larger
and medium business customers in the United Kingdom. Customers are
served by a network of relationship and industry sector specialist
managers who provide local access to an extensive range of products
and services, as well as offering business information and support.
Customers are also offered access to the products and expertise of
other businesses in the Group, particularly Barclays Capital.
Private Clients and International
Private Clients and International manages Barclays wealth
management operations and the Group’s international retail and
commercial banking activities. It is managed as two distinct
businesses.
Private Clients
Private Clients serves affluent, high net worth and corporate clients,
primarily in the UK and continental Europe, providing private banking,
offshore banking, stockbroking and asset management services, as well
as financial planning services to a broader customer base. Private
Clients comprises two businesses: International and Private Banking;
and Wealth Solutions (which includes Barclays Financial Planning,
Barclays Stockbrokers and the Gerrard business, which was acquired in
2003). Through Wealth Solutions, Private Clients delivers investment
products to UK Retail Banking. Private Clients also includes the closed
life assurance activities.
International
International provides a range of banking services, including current
accounts, savings, investments, mortgages and consumer loans to
personal and corporate customers across Spain, Portugal, France, Italy,
the Caribbean, Africa and the Middle East. International also includes
the results of the FirstCaribbean business, accounted for as an
associated undertaking.
Barclaycard
Barclaycard is a multi-brand credit card and consumer lending business
with an increasing international presence and is one of the leading
credit card businesses in Europe.
In the UK, Barclaycard operates the Barclaycard branded credit cards,
Barclays branded consumer loans – particularly Barclayloan – and also
comprises FirstPlus, Clydesdale Financial Services and Monument
credit cards.
Outside the UK, Barclaycard International is active in the United States,
Germany, Spain, Greece, Italy, Portugal, Republic of Ireland and across
Africa. The acquisition of the US credit card issuer, Juniper Financial
Corporation, was completed on 1st December 2004. Juniper provides a
platform for the expansion of Barclaycard’s international business into
the US credit card market.
Barclaycard Business processes card payments for retailers and
merchants and issues cards to corporate customers.
Barclaycard works closely with other parts of the Group, including
UK Retail Banking, UK Business Banking and International, to leverage
their distribution capability.
Barclays Capital
Barclays Capital is a leading global investment bank which provides
large corporate, institutional and government clients with solutions
to their financing and risk management needs.
The Barclays Capital business model focuses on a broad span of
financing and risk management services. It services a wide variety
of client needs, from capital raising and managing foreign exchange,
interest rate and commodity risks, through to providing technical
advice and expertise.
Activities are primarily divided between two areas: Rates, which
includes fixed income, foreign exchange, commodities, emerging
markets, money markets sales, trading and research, prime brokerage
and equity related activities; and Credit, which includes origination,
sales, trading and research relating to loans, debt capital markets,
structured capital markets, commercial mortgage backed securities,
private equity and large asset leasing.
Business description