Barclays 2013 Annual Report Download - page 59

Executive Subject Matter
Group Chief Executive CEO’s introduction
(strategy and key priorities)
Business Division
Chief Executives
Review of:
 UK Retail and Business Banking
businesses
 Corporate and Investment Banking
businesses
 Corporate Banking business
 Barclaycard business
 Wealth and Investment Management
businesses
 Europe, Middle East Retail and
Business Bank business
Group Function Heads
(e.g., Group General
Counsel, Chief Risk
Officer)
Briefings on:
 Legal function
 Risk function
 Operations and Technology
 Compliance and relationship with
regulators
 Finance Group overview
 Internal Audit function
 Tax function
 Treasury function
 Investor Relations
 HR function
 Strategy and Corporate development
Senior Statutory
Auditor
Areas of audit focus
Group Corporate
Relations Director
Briefing on Citizenship and Brand and
Marketing
Company Secretary Role and responsibilities as a Director
In addition to induction on joining the Board or a Board Committee, a
programme of briefings for all non-executive Directors is arranged each
year in order to deepen their understanding of specific business or
technical issues. During 2013, briefings were held on Barclays’ Equities,
Fixed Income, Currencies and Commodities and Africa businesses, and
the Board Financial Risk Committee and Board Audit Committee held a
joint briefing session on Pillar 3 Reporting.
What has been the Board’s role in Transform?
The Code makes clear the principle that the Board should set the
company’s strategic aims, ensure that the necessary financial and
human resources are in place for the company to meet its objectives
and review management performance. Our approach as a Board in
support of this principle is to challenge and test proposals on strategy
put forward by the Chief Executive and, following a decision by the
Board on the policy or strategy to be adopted, offer full empowerment
to the executive Directors to then implement that strategy, subject to
continuing oversight from the Board.
Transform is our strategy for both improved financial performance and
cultural change. In the fourth quarter of 2012, Barclays embarked on a
strategic review, covering business performance, costs, funding and
liquidity and purpose, values and behaviours, the outcomes of which
were debated and endorsed by the Board in early 2013. In approving
the strategy, the Board examined the results of the business portfolio
review, which analysed each business both from a financial and
reputational perspective, and evaluated proposals for reducing costs
and risk weighted assets and for maintaining our capital, funding and
liquidity positions. We also assessed proposed strategies for
embedding cultural change, for changing the reward structure and for
strengthening the control environment. The proposed strategy
translated into a series of non-financial and financial commitments,
which were announced in February 2013.
Board diversity
All Board appointments are made on merit, in the context of the
diversity required for an effective Board, including diversity of skills,
experience, background and gender. The aims set out in our Board
Diversity Policy, published in April 2012, were to have 20% of the
Board made up of women by the end of 2013, and for that position
to have exceeded 25% by the end of 2015. Our Board Diversity
Policy can be found on our website, Barclays.com.
The independence of non-executive Directors is reviewed on an
annual basis as part of the Directors’ evaluation process, taking into
account length of tenure, ability to provide objective challenge to
management and any relationships that might be considered as
factors when determining independence.
Balance of non-executive and executive Directors
1 2 12
Chairman Executive Directors Non-executive Directors
Board gender balance
Male 12
Female 3
Length of tenure of Chairman and non-executive Directors
0-3 years 7
3-6 years 3
6-9 years 3
Geographical mix of Chairman and non-executive Directors
United Kingdom 6
Continental Europe 2
United States 3
Other 2
Industry/background experiencea
Number of directors Experience
8 Financial services
7 Political/regulatory contacts
8 Current or recent Chairman/CEO
3 Accountancy/financial expert
3 International (US)
5 International (Europe)
3 International (RoW)
2 Retail/marketing
a Individual Directors may fall into one or more categories
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