Barclays 2008 Annual Report Download - page 296

Notes to the accounts
For the year ended 31st December 2008
294 Barclays PLC Annual Report 2008 |Find out more at www.barclays.com/annualreport08
53 Segmental reporting (continued)
Global Retail and Commercial Banking – Emerging Markets
GRCB – Emerging Markets encompasses Barclays Global Retail and Commercial Banking, as well as Barclaycard operations, in 14 countries organised in
six geographic areas: India and Indian Ocean (India, Mauritius and Seychelles); Middle East and North Africa (UAE and Egypt); East and West Africa
(Ghana, Tanzania, Uganda and Kenya); Southern Africa (Botswana, Zambia and Zimbabwe); Russia; and Pakistan (from 23rd July 2008). GRCB –
Emerging Markets serves its customers through a variety of distribution channels. GRCB – Emerging Markets provides a variety of traditional retail and
commercial products including retail mortgages, current and deposit accounts, commercial lending, unsecured lending, credit cards, treasury and
investments. In addition to this, it provides specialist services such as Sharia compliant products and mobile banking.
Global Retail and Commercial Banking – Absa
GRCB – Absa represents Barclays consolidation of Absa, excluding Absa Capital and Absa Card which is included as part of Barclays Capital and
Barclaycard respectively. Absa Group Limited is a South African financial services organisation serving personal, commercial and corporate customers
predominantly in South Africa. GRCB – Absa serves retail customers through a variety of distribution channels and offers a full range of banking services,
including current and deposit accounts, mortgages, instalment finance, credit cards, bancassurance products and wealth management services. It also
offers customised business solutions for commercial and large corporate customers.
Barclays Capital
Barclays Capital is the investment banking division of Barclays that provides large corporate, institutional and government clients with solutions to their
financing and risk management needs.
Barclays Capital services a wide variety of client needs, covering strategic advisory and M&A; equity and fixed income capital raising and corporate
lending; and risk management across foreign exchange, interest rates, equities and commodities.
Activities are organised into three principal areas: Global Markets, which includes commodities, credit products, equities, foreign exchange, interest rate
products; Investment Banking, which includes corporate advisory, Mergers and Acquisitions, equity and fixed-income capital raising and corporate
lending; and Private Equity and Principal Investments. Barclays Capital includes Absa Capital, the investment banking business of Absa. Barclays Capital
works closely with all other parts of the Group to leverage synergies from client relationships and product capabilities.
Barclays Global Investors
BGI is an asset manager and a provider of investment management products and services.
BGI offers structured investment strategies such as indexing, global asset allocation and risk controlled active products including hedge funds and
provides related investment services such as securities lending, cash management and portfolio transition services. BGI collaborates with the other
Barclays businesses, particularly Barclays Capital and Barclays Wealth, to develop and market products and leverage capabilities to better serve
the client base.
Barclays Wealth
Barclays Wealth serves high net worth, affluent and intermediary clients worldwide, providing private banking, asset management, stockbroking, offshore
banking, wealth structuring and financial planning services and managed the closed life assurance activities of Barclays and Woolwich in the UK.
Barclays Wealth works closely with all other parts of the Group to leverage synergies from client relationships and product capabilities.
Head Office Functions and Other Operations
Head Office Functions and Other Operations comprises head office and central support functions, businesses in transition and inter-segment adjustments.
Head office and central support functions comprises the following areas: Executive Management, Finance, Treasury, Corporate Affairs, Human Resources,
Strategy and Planning, Internal Audit, Legal, Corporate Secretariat, Property, Tax, Compliance and Risk. Costs incurred wholly on behalf of the businesses
are recharged to them.
Businesses in transition principally relate to certain lending portfolios that are centrally managed with the objective of maximising recovery from
the assets.