The move is a direct response to the headwinds facing charitable organisations which include declining Government grants and increasing pressure on donations.
David McHattie, Head of Charities at Barclays Corporate, said: “With funding cuts bearing down and donation levels falling, charities face the challenge of reducing incomes, just at a time when they are most needed. We believe it is essential that Barclays Corporate is able to provide increased support and advice at a local level”.
With immediate effect, charities are now able to draw on a network of 40 relationship directors across the UK, including Scotland, Ireland, Northern and Eastern counties, as well as the Midlands, Wales, the South West, the Southern counties and London. The relationship directors not only have an in-depth knowledge of the voluntary sector but, also understand the individual needs and issues facing the charities within the communities they support.
Some of the issues Barclays Corporate will be helping charities tackle will be around how to maximise efficiencies, whether it be removing duplications in managing finances, consolidating cash balances or negotiating better deals based on economies of scale.
McHattie continued: “We are also working closely with a number of charities to evaluate whether now might be the time to take on a modest amount of debt in order to maximise incomes from their own efforts.
“Scope, the disability charity, recently raised £20m to support fundraising at the end of last year and a number of other charities are now exploring whether this is the right time for them to use leverage to generate new streams of income”.
About Barclays Corporate
With a clear focus on quality relationships, Barclays Corporate provides integrated banking solutions to businesses with an annual turnover of more than £5 million in the UK and large local companies, financial institutions and multinationals in non-UK markets. We facilitate the success and growth of our clients by providing lending, risk management, cash and liquidity management, trade finance and asset and sales financing. Additionally, our clients benefit from the breadth of the Barclays Group, through access to the investment banking services of Barclays Capital including debt and equity capital markets, the private wealth management expertise of Barclays Wealth, and the card and payment services of Barclaycard. Barclays Corporate employs over 10,000 people globally. For more information please visit www.barclayscorporate.com.
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