Board Responsibilities

At Barclays we think of governance as how the Board makes decisions and provides oversight in order to promote Barclays’ success for the long-term benefit of our shareholders having regard to the interests of our other priority stakeholder groups – our clients, customers, colleagues and the society in which we operate.

The role of the Board

The Barclays PLC Board sets the Purpose, strategic direction and risk appetite for the Group and is the ultimate decision-making body for matters of Group-wide strategic, financial, regulatory or reputational significance.

Matters reserved to the Board

Matters reserved solely for the decision-making power of the Board are set out in our bespoke Matters Reserved to the Board. Those matters include material decisions relating to:

  • strategy
  • risk appetite
  • medium term plans
  • capital and liquidity plans
  • risk management and controls frameworks
  • approval of financial statements
  • approval of large transactions
  • approval of share allotments, dividends and share buybacks.

Responsibility for the Group’s business on a day-to-day basis has been delegated by the Board to the Group Chief Executive, supported by his Executive Committee, to make and implement operational decisions.

Board Committees

The Board is supported in its work by its Committees - the Board Nominations Committee, Board Audit Committee, Board Risk Committee, Board Remuneration Committee and the Board Sustainability Committee - each of which has its own terms of reference clearly setting out its remit and decision-making powers. This structure enables the Board to spend a significant proportion of its time focusing on the Group’s strategy.

The Board Committees are comprised solely of Non-Executive Directors, with the exception of the Board Sustainability Committee of which the Group Chief Executive is an Executive member.

The Chairs of each Committee report on their Committee’s work at every scheduled Board meeting.

More information can be found on our Board Committees page.

Board effectiveness

The Board Nominations Committee ensures that a formal and rigorous review of the performance of the Board, Board Committees and individual Directors is undertaken each year, in line with the requirements of the UK Corporate Governance Code.

We carried out an internally facilitated effectiveness review for 2023, which was led by the SID and supported by the Group Company Secretary.