Barclays

Barclays PLC is one of the world’s oldest banking institutions, tracing its origins back to goldsmith banking operations in London in 1690. Headquartered in London’s Canary Wharf district, the bank operates globally across more than 40 countries and serves millions of retail, corporate, private-client and institutional customers.

Over its centuries of existence, Barclays has been an innovator in banking—introducing the UK’s first credit card (Barclaycard) in the 1960s, and the world’s first cash dispenser (ATM) in 1967.

The bank has also grown through acquisitions, including the purchase of the North American operations of Lehman Brothers in 2008, which helped expand its investment banking presence.

Today, Barclays faces the competitive challenges of the modern banking industry: low interest-rate environments, regulatory pressure, digital disruption (fintech), climate/ESG obligations and the need to simplify operations.

In response, the bank launched a three-year strategic plan to become “simpler, better and more balanced,” including cost-cutting goals of ~£2 billion and a target to return at least £10 billion to shareholders via dividends and buybacks by 2026.