BZW dealing room, c1988

Computer technology has been vital to the long-term success of Barclays Capital and the City of London as a world financial centre. Barclays was the most successful of the UK clearing banks to enter the field of international investment banking following the deregulation of the Stock Exchange in 1986. Having already established a merchant bank, it combined this with its investment management company and three broking and jobbing firms acquired for the purpose, to form Barclays de Zoete Wedd in that year. As with Barclaycard, persistence by Barclays ensured that eventually BZW became the basis for a profitable arm of the Group, following part-sale and reorganisation of BZW as Barclays Capital in 1997.