Barclays HQ in Canary Wharf

Ringing the bell for Barclays Non-Core

30 June 2017

Barclays Non-Core was created in 2014, with £110bn of risk weighted assets (RWAs), which represented 25% of the Barclays Group’s total at the time. BNC had a simple but ambitious mandate: to get the best possible outcome for Barclays investors, customers, clients and our colleagues, in the divestment of these businesses and assets.

Barclays has eliminated the vast majority of the RWAs allocated to Non-Core, reduced the banks complexity and geographic footprint with a substantial reduction in our cost base. A full update will be given at our half year results on 28 July.

Many of our colleagues will be returning to the core business, bringing with them new skills and new experiences thanks to their time in Barclays Non-Core.

Harry Harrison, Head of Barclays Non-Core said: “Barclays Non-Core was an ambitious project, and thanks to the hard work of many dedicated colleagues, we are now able to close BNC, and begin reintegrating the remaining assets back into the core.

"It has been a privilege to work with such a dedicated team of individuals and I am pleased to see many of our colleagues moving on to new roles within Barclays while others take the skills and experiences they have gained with them to new opportunities outside the Group.

"I want to thank my BNC colleagues, and wish them well in their next endeavours as we ring the deal bell one last time on Friday."

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