Barclays

Barclays PLC is a global financial company from the UK. Barclays is the third largest bank in the UK. At year-end 2010, the Bank had 147,500 employees worldwide.

The Bank is headquartered at Churchill Place in Canary Wharf in London's Docklands ( previously until May 2005 at the Lombard Street in downtown London). The headquarters of Barclays in the United States is located on Park Avenue in New York.

The Bank is one of the 28 major banks, which by the Financial Stability Board (FSB) as " systemically important financial institution" ( systemically important financial institution) were classified. Therefore it is subject to special monitoring and stringent requirements on the level of equity.

In one published in 2011 at the ETH Zurich study Barclays was described as the most influential companies in the world economy.

History

The company's history goes back to the year 1690, when John Freame and Thomas Gould, who were both Quakers, in Lombard Street, the City of London began as a goldsmith - bankers. The commercial banking system originated in England with the goldsmiths who went on to take the gold and valuables of their clients in safe custody.

1728 pulled the bench in the house No. 54 Lombard Street, worn as a sign a black eagle with outstretched wings. This symbol was placed in the following years, the identifying feature of the Bank

The name Barclay was first used in 1736 in connection with the bank, when James Barclay, John Freames son, became a partner.

From 1776 to 1785, the Bank changed its name as Barclay, Bevan and Bening.

His wealth, the bank came during the time of colonialism.

The first ATM in the world in 1967 (now a borough of Greater London ) established by the Barclays branch in Enfield.

Barclays holds the naming rights to the Premier League Barclays Premier League.

Share and ownership structure

The shares are listed on the London Stock Exchange and the Tokyo Stock Exchange; they are included in the FTSE 100 Index.

In the context of the financial crisis in early October 2008 Barclays capital raising measures amounting to 6.5 billion pounds - of which 2 billion by cancellation of dividend and 4.5 billion in the form of equity investments of institutional investors - performed. Of the 4.5 billion pounds again come 3.5 billion from the International Petroleum Investment Company ( IPIC ), a sovereign wealth fund of the emirate of Abu Dhabi. On 2 June 2009, IPIC sold a share of 3.5 billion pounds at the time of its stake acquired, equivalent to 11% of the share capital of Barclays. Other convertible bonds with a volume of 758 million shares or 6 % of the capital keeps ICPC continue.

Largest shareholders are currently the investment company BlackRock, 7.07 %, and the emirate of Qatar through the Qatar Holdings LLC 6.76%

In 2009, the investment arm Barclays Global Investors ( BGI) from U.S. financial firms BlackRock was acquired for $ 13.5 billion. This $ 6.6 billion were paid in cash and $ 6.9 billion in shares. Barclays holds about 20 percent stake in BlackRock. The assets managed by BlackRock is around 2,700 billion dollars.

Through a management buy -out, the department Barclays Private Equity has been split off as Equistone Partners Europe in 2011.

LIBOR manipulation

On June 27, 2012 Barclays was imposed by the Financial Services FSA and the Ministry of Justice and the U.S. Commodity Futures Trading Commission a record fine of 450 million dollars because the bank had the important reference rates, LIBOR and EURIBOR manipulated for years routinely to trading profits to achieve. Ed Miliband, Leader of the British Labour Party, stated that the financial system was " institutionally corrupt" and called for a criminal prosecution of the responsible bankers. It could, he said, its not done with a slap on the wrist and the absence of a bonus. But the British Finance Minister George Osborne confirmed that the powers of the FSA was not sufficient to track the criminal manipulation. Because of the scandal, announced on July 2, 2012 Marcus Agius, first, the head of Barclays Board, its withdrawal from the company; a day later joined chief executive Bob Diamond and COO Jerry del Missier back with immediate effect from their positions. In a document dated 3 July 2012, the Bank provided their perspective on the incidents is publicly regretted this and admitted that they never should have happened.

Criticism

In 2012, Barclays won the Public Eye Award, as the bank was the fastest-growing food speculator, and thus should have driven the price of food at the expense of the poor in the air.

Early 2014 announced the bank to internationally 12,000 jobs to be deleted. At the same time the bonus payments are increased by 13 percent to 1.57 billion pounds in investment. While the gains in this area by 37 percent fell to 2.5 billion pounds.

Trivia

The branch of the Bank in Madrid, the Torres de Colón (1976 erected under the direction of Antonio Lamela for Rumasa ), was elected in 2008 by travel bloggers of the Internet project VirtualTourist one of the ten ugliest buildings in the world.