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Barclays strengthens local authority offering with introduction of regional cash management specialists

10 Sep 2012 10:09 GMT

Barclays Corporate Banking has strengthened its local authority offering with the introduction of a team of regional cash management specialists tasked with providing increased support to the sector at a time when deposit security and liquidity management has become an increasingly important issue for the public sector.

With immediate effect a team of four local authority cash specialists will be responsible for providing support across London and Southern England, Eastern England, Wales and South West England, Scotland, Northern Ireland and Northern England. They not only have specialist knowledge of cash and liquidity management but, also an in-depth knowledge of the sector and the individual challenges and issues authorities across the UK face. The move follows the introduction of a nationwide network of specialist relationship directors last year, as Barclays continues to shape its offering in response to the needs of it local authority clients.

Chris Hearn, Head of Local Authorities and Education at Barclays, said: “Prior to the financial crisis, the focus for local authorities was often how to get the best return for their cash but, as the crisis intensified and the consequences of the comprehensive spending review become more keenly felt, cash security was pushed to the fore.

“Cash and liquidity management decisions are now heavily influenced by both institutional and sovereign credit ratings and Barclays has been amongst the beneficiaries of this flight to safety. We’re increasingly placing and investing funds for the public sector and it has become clear that the sector would benefit from increased support at a regional and sector level during these unprecedented economic times”.

Kash Ahmad, Head of UK Cash Origination at Barclays, said: “The changing shape of the financial sector has had a dramatic effect on Local Authorities’ cash management considerations and Barclays continues to develop its Local Authority Proposition accordingly. Firstly through the introduction of a suite of innovative products designed to maximise yield and enhance operational efficiencies, whilst satisfying varied investment and cash management policies. Furthermore, by allocating further resource to our dedicated Public Sector Cash Management Team, ensuring experts are always on hand to work with and add value for our public sector clients”.


About Barclays

Barclays is a major global financial services provider engaged in personal banking, credit cards, corporate and investment banking and wealth and investment management with an extensive international presence in Europe, the Americas, Africa and Asia. Barclays’ purpose is to help people achieve their ambitions – in the right way.

With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs approximately 140,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.

For further information about Barclays, please visit our website www.barclays.com.