Apr 21 - Barclays Bank Is Leaving Gibraltar Resulting In 16 Job Losses
After 127 years on the Rock, Barclays PLC today announces that it intends to close its premises in Gibraltar, resulting in 16 job losses.
Barclays will continue to serve its customers and clients based in Gibraltar with a product offering serviced out of the UK.
On 1 March 2016, Jes Staley, Group Chief Executive, Barclays, outlined the future shape of Barclays, which will simplify the business through the creation of Barclays UK and Barclays Corporate & International. As part of this strategic restructuring and simplification of the Barclays Group, it is reducing its presence in a number of locations, including in Gibraltar.
Nigel Riley, Director, Barclays Corporate & International, said: “As part of a continuing drive for simplification and in line with Barclays strategy as outlined by our CEO in March 2016, we have reviewed our local operating model for the business in Gibraltar.”
The majority of Barclays’ clients in Gibraltar have bank accounts based in London and Jersey and will continue to receive banking services.
Mr Riley added: “Our focus will be on supporting our colleagues impacted by these changes and ensuring we continue to offer a high level of service to our clients.”
Barclays announced they would be streamlining their Gibraltar business in March 2013, resulting in numerous redundancies, and the closure of its retail business in Main Street last May.
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