business

Barclays to Merge Treasury and Investor Relations Units

Updated on
  • 16-year veteran McLeland takes over Dan Hodge’s treasury role
  • Hodge looking for a new job within bank, people familiar say

Barclays Plc named Kathryn McLeland to run a newly combined treasury and investor relations unit as part of an internal reshuffle, according to people with knowledge of the moves.

McLeland, who has been head of investor relations for five years, has assumed the responsibilities of Dan Hodge, who is now looking for another role within the bank, said the people, who declined to be named because the details are private. She reports to Finance Director Tushar Morzaria and previously worked in the investment bank’s financial institutions capital markets team for 11 years.

Treasurers at British banks have grown in importance since the financial crisis with the advent of complex capital rules and stress tests designed to prevent another catastrophic collapse in the system. The regulations have required the issuance of new types of debt, such as contingent convertible bonds, which can be converted to equity or written down to absorb losses if there’s another shock.

Lenders are also overhauling their corporate and capital structures as they prepare for the introduction of ring-fencing rules at the beginning of next year, which legally separate the riskier investment banking activities from the retail operations.

A spokesman for the bank declined to comment on the changes. Hodge said he’s considering a new role internally, without elaborating specifics.

(Updates with comment from Hodge in final paragraph.)
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