53-807: BZW may refer to: Organizations [ edit ] Barclays de Zoete Wedd , now known as the Barclays Investment Bank Brabants-Zeeuwse Werkgeversvereniging , Brabant-Zealandic Employers association Science and technology [ edit ] Any of two basic leucine zipper and W2 domain-containing proteins (BZW): BZW1 BZW2 .bzw, file extension used by BZFlag Other [ edit ] Blizzard Warning (SAME code BZW), United States weather warning Basa-Benue language (ISO code bzw), spoken in central Nigeria beziehungsweise (abbrev. bzw. ), German for respectively or i.e. Topics referred to by
106-648: A Quaker , and Thomas Gould, started trading as goldsmith bankers in Lombard Street, London . The name "Barclays" became associated with the business in 1736, when Freame's son-in-law James Barclay became a partner. In 1728, the bank moved to 54 Lombard Street, identified by the "Sign of the Black Spread Eagle ", which in subsequent years would become a core part of the bank's visual identity. The Barclay family were connected with slavery, both as proponents and opponents. David and Alexander Barclay were engaged in
159-508: A 4:1 share split. In 2003, Barclays bought the American credit card company Juniper Bank from CIBC , re-branding it as "Barclays Bank Delaware". The same year saw the acquisition of Banco Zaragozano, the 11th-largest Spanish bank. Barclays took over sponsorship of the Premier League from Barclaycard in 2004. In May 2005, Barclays moved its group headquarters from Lombard Street in
212-783: A Barclay, was admitted, and the business then became "Barclay, Bevan, Bening and Tritton". In 1896, twelve houses in London and the English provinces, notably Goslings and Sharpe , Backhouse's Bank of Darlington and Gurney's Bank of Norwich (the latter two of which also had their roots in Quaker families), united to form Barclays and Co., a joint-stock bank, which at its formation held around one quarter of deposits in English private banks. Between 1905 and 1916, Barclays extended its branch network by making acquisitions of small English banks. Further expansion followed in 1918 when Barclays amalgamated with
265-544: A former member of France 's Council of Economic Analysis. Lombardi published the panel's final report in September 2011 as a Brookings Issue Paper, concluding that the FSB's governance had not evolved as quickly as its prominence. It made several recommendations: At the 2011 G20 Cannes summit , the G20 called for a strengthening of the FSB's capacity resources and governance by establishing
318-558: A fourth pillar" of the architecture of global economic governance, alongside the International Monetary Fund , World Bank , and the World Trade Organization . Unlike some other multilateral financial institutions, the FSB lacks a treaty basis and formal power, and relies instead on an informal and nonbinding memorandum of understanding for cooperation adopted by its members. The FSB's predecessor organization,
371-639: A group holding company, renamed Barclays Group Plc, and UK retail banking was integrated under the former BBI, and renamed Barclays Bank PLC from Barclays Bank Limited . In response to the Big Bang on the London Stock Exchange , in 1986 Barclays bought UK stockbroker de Zoete & Bevan and jobbing firm Wedd Durlacher (formerly Wedd Jefferson). They were merged with Barclays Merchant Bank to form Barclays de Zoete Wedd (BZW). Also that year Barclays sold its South African business operating under
424-776: A report to the G7 Finance Ministers detailing its recommendations: The High-Level Panel on the Governance of the FSB was an independent initiative coordinated by Domenico Lombardi of the Brookings Institution and funded by the Connect U.S. Fund . It assembled a high-level panel of experts, including Uganda 's former Finance Minister and Central Bank Governor of Uganda Ezra Suruma , former Prime Minister of Kyrgyzstan Djoomart Otorbaev , former Finance Minister of Colombia José Antonio Ocampo , and Jacques Mistral ,
477-631: A secondary listing on the New York Stock Exchange . It is considered a systemically important bank by the Financial Stability Board . According to a 2011 paper, Barclays was the most powerful transnational corporation in terms of ownership and thus corporate control over global financial stability and market competition , with Axa and State Street Corporation taking the 2nd and 3rd positions, respectively. Barclays operates in over 40 countries, employs over 80,000 people and
530-545: A stake to Sumitomo Mitsui Banking Corporation . Only 19% of shareholders took up their rights leaving investors China Development Bank and Qatar Investment Authority with increased holdings in the bank. Reuters reported in October 2008 that the British government would inject £40 billion (US$ 69 billion) into three banks including Barclays, which might seek over £7 billion. Barclays later confirmed that it rejected
583-711: A successor to the Financial Stability Forum (FSF). The Board includes all G20 major economies , FSF members, and the European Commission . Hosted and funded by the Bank for International Settlements , the board is based in Basel , Switzerland , and is established as a not-for-profit association under Swiss law . The FSB represented the G20 leaders' first major international institutional innovation. U.S. Treasury Secretary Tim Geithner has described it as "in effect,
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#1732848114851636-451: Is a primary dealer in Gilts , U.S. Treasury securities and various European Government bonds . The bank's name has never included an apostrophe (Barclay's) in its spelling. It was first registered in 1896 as "Barclay and Company, Limited", changed to "Barclays Bank Limited" in 1917 and to "Barclays Bank PLC" in 1982. Barclays traces its origins back to 17 November 1690, when John Freame ,
689-516: Is different from Wikidata All article disambiguation pages All disambiguation pages Barclays de Zoete Wedd Barclays plc ( / ˈ b ɑːr k l i z / , occasionally /- l eɪ z / ) is a British multinational universal bank , headquartered in London , England. Barclays operates as two divisions, Barclays UK and Barclays International, supported by a service company, Barclays Execution Services. Barclays traces its origins to
742-765: Is the fifth largest bank in Europe by total assets. Barclays UK comprises the British retail banking operations, consumer credit card business, wealth management business, and corporate banking for small, medium and large-sized businesses in the UK. Barclays International consists of Barclays Corporate and Investment Bank (formerly known as Barclays Capital ) and the Consumer, Cards & Payments business. The investment banking business provides advisory, financing and risk management services to large companies, institutions and government clients. It
795-572: The Bank for International Settlements . Members discussed current challenges in financial markets, and various policy options to address them from this point forward. At this meeting, the FSF discussed a report to be delivered to G7 Finance Ministers and Central Bank Governors in April 2008. The report identifies key weaknesses underlying current financial turmoil, and recommends actions to improve market and institutional resilience. The FSF discussed work underway at
848-678: The Bank of Scotland in exchange for a 25% stake, a transaction that became effective from 1971. Barclays DCO changed its name to Barclays Bank International in 1971. From 1972 until 1980, a minority stake in Banca Barclays Castellini SpA, Milan was owned by the Castellini family. In 1980, Barclays Bank International acquired the remaining stake in Barclays Castellini from the Castellini family. In August 1975, following
901-708: The Barclays National Bank name after protests against Barclays' involvement in South Africa and its apartheid government. Barclays introduced the Connect card in June 1987, the first debit card in the United Kingdom. In 1988, Barclays sold Barclays Bank of California, which at that time was the 17th-largest bank in California measured by assets, to Wells Fargo for US$ 125 million in cash. Edgar Pearce ,
954-832: The City of London to One Churchill Place in Canary Wharf . Also in 2005 Barclays sealed a £2.6bn takeover of Absa Group Limited , South Africa's largest retail bank, acquiring a 54% stake on 27 July 2005. Then in 2006, Barclays purchased the HomEq Servicing Corporation for US$ 469 million in cash from Wachovia Corp. That year also saw the acquisition of the financial website CompareTheLoan and Barclays announcing plans to rebrand Woolwich branches as Barclays, migrating Woolwich customers onto Barclays accounts and migrating back-office processes onto Barclays systems—the Woolwich brand
1007-563: The European Union , Carney sent a letter to Finance Ministers attending the G20 Summit and to Central Bank Governors outlining the reforms the FSB had made indicating that the global economy and financial system had "continued to function effectively" and had "weathered" the "spikes in uncertainty and risk aversion", confirming that "this resilience in the face of stress demonstrates the enduring benefits of G20 post-crisis reforms". He emphasized
1060-414: The International Monetary Fund and Organisation for Economic Co-operation and Development with regard to sovereign wealth funds . The International Monetary Fund is working closely with sovereign wealth funds to identify a set of voluntary best practice guidelines, and is focusing on the governance, institutional arrangements and transparency of sovereign wealth funds. On 12 April 2008, the FSF delivered
1113-672: The London, Provincial and South Western Bank , and in 1919, when the British Linen Bank was acquired by Barclays, although the British Linen Bank retained a separate board of directors and continued to issue its own banknotes (see Banknotes of the pound sterling ). In 1925, the Colonial Bank , National Bank of South Africa and the Anglo-Egyptian Bank were amalgamated and Barclays operated its overseas operations under
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#17328481148511166-440: The goldsmith banking business established in the City of London in 1690. James Barclay became a partner in the business in 1736. In 1896, twelve banks in London and the English provinces, including Goslings Bank , Backhouse's Bank and Gurney, Peckover and Company , united as a joint-stock bank under the name Barclays and Co. Over the following decades, Barclays expanded to become a nationwide bank. In 1967, Barclays deployed
1219-404: The secondary banking crash , Barclays acquired Mercantile Credit Company. Barclays Bank International expanded its business in 1980 to include commercial credit and took over American Credit Corporation, renaming it Barclays American Corporation. During 1985 Barclays Bank and Barclays Bank International merged, and as part of the corporate reorganisation the former Barclays Bank plc became
1272-504: The "Mardi Gra Bomber", began a terror campaign against the bank and the supermarket chain Sainsbury's in 1994. Barclays bought Wells Fargo Nikko Investment Advisors (WFNIA) in 1996 and merged it with BZW Investment Management to form Barclays Global Investors . Bob Diamond took charge of the investment banking businesses that year. Two years later, in 1998, the BZW business was broken up and
1325-756: The "two spikes in uncertainty and risk aversion" weathered by the global economy and financial system as of late July 2016, which outlined its priorities for 2016: In addition to the priorities listed above, the FSB also sought to: In November 2016, the FSB and the board of the Bank for International Settlements agreed to a further five-year extension of the agreement from January 2018 to 2023. The FSB has 71 member institutions, comprising ministries of finance, central banks, and supervisory and regulatory authorities from 25 jurisdictions as well as 13 international organizations and standard-setting bodies , and 6 Regional Consultative Groups reaching out to 65 other jurisdictions around
1378-522: The 1990s, Barclays helped to fund President Robert Mugabe 's government in Zimbabwe . The most controversial of a set of loans provided by Barclays was the £30 million it gave to help sustain land reforms that saw Mugabe seize white-owned farmland and drive more than 100,000 black workers from their homes. Opponents have called the bank's involvement a "disgrace" and an "insult" to the millions who have suffered human rights abuses. A Barclays spokesman said
1431-567: The British-based bank during World War II. Barclays, along with seven French banks, was named in a lawsuit filed in New York on behalf of Jews who were unable to reclaim money they deposited during the Nazi era. In an unusual move as part of the trend at the time for free ISPs , Barclays launched an internet service in 1999 called Barclays.net. This entity was acquired by British Telecom in 2001. In
1484-697: The EU rules do not apply to its 67%-owned Zimbabwean subsidiary because it was incorporated outside the EU. In August 2000, Barclays took over the recently de-mutualised Woolwich PLC, formerly the Woolwich Building Society, in a £5.4 billion acquisition. Woolwich thus joined the Barclays group of companies, and the Woolwich name was retained after the acquisition. The company's head office remained in Bexleyheath , south-east London , four miles (6 km) from
1537-537: The Equity and Corporate Finance Divisions were sold to Credit Suisse First Boston : Barclays retained the debt-focused Fixed Income business and Structured Capital Markets which formed the foundation of the rebranded Barclays Capital ( BarCap ). Barclays Capital had offices in over 29 countries and employed over 20,000 people, with over 7,000 people working in its IT division. In 1998, Barclays Bank agreed to pay $ 3.6m to Jews whose assets were seized from French branches of
1590-537: The FSB "on an enduring organizational basis". In its 2012 report to the G20 Los Cabos summit , the FSB set out concrete steps to strengthen the organization's capacity, resources, and governance as well as establish it on an enduring organizational footing. The G20 endorsed the FSB's restated and amended charter. In January 2013, the FSB became a separate legal entity in the form of an association or "Verein" under Swiss law, when its Articles of Association were adopted by
1643-516: The FSB Plenary. The FSB is hosted and funded by the Bank for International Settlements under a five-year agreement executed between the two in January 2013. The bank bears the majority of the FSB's operating expenses, and the FSB does not have any assets, liabilities, or revenue. In late July 2016, after the world markets had faced a number of crises, including terrorism and the UK's decision to leave
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1696-493: The Financial Stability Forum (FSF), had emerged from a group of finance ministries , central bankers , and international financial bodies, which had been founded in 1999 to promote international financial stability by the finance ministers and central bank governors of G7 countries. The FSF facilitated discussion and cooperation on supervision and surveillance of financial institutions, transactions, and events. FSF
1749-513: The G20 summit on 15 November 2008, it was agreed that the membership of the FSF will be expanded to include emerging economies, such as China. The 2009 G20 London summit decided to establish a successor to the FSF, the Financial Stability Board (FSB) to include members of the G20 who had not been FSF members. The Financial Stability Forum met in Rome on 28–29 March 2008 in connection with
1802-710: The Government's offer and would instead raise £6.5 billion of new capital (£2 billion by cancellation of dividend and £4.5 billion from private investors). Barclays launched a further round of capital raising, approved by special resolution on 24 November 2008, as part of its overall plan to achieve higher capital targets set by the UK's Financial Services Authority to ensure it would remain independent. Barclays raised £7 billion from investors from Abu Dhabi and Qatar. Existing Barclays shareholders complained they were not offered full pre-emption rights in this round of capital raising, even threatening to revolt at
1855-404: The UK government, which was offered to boost its capital ratio. Barclays believed that "maintaining its independence from government was in the best interests of its shareholders". In July 2008, Barclays attempted to raise £4.5 billion through a non-traditional rights issue to shore up its weakened Tier 1 capital ratio , which involved a rights offer to existing shareholders and the sale of
1908-617: The US. However, a Barclays spokesman denied the rumours. In February 2008, Barclays bought the credit card brand Goldfish for US$ 70 million gaining 1.7 million customers, and US$ 3.9 billion in receivables. Barclays also bought a controlling stake in the Russian retail bank Expobank for US$ 745 million. Later in the year Barclays commenced its Pakistan operations with initial funding of US$ 100 million. Barclays sought to raise capital privately, avoiding direct equity investment from
1961-524: The bank has had customers in Zimbabwe for decades and abandoning them now would make matters worse, "We are committed to continuing to provide a service to those customers in what is clearly a difficult operating environment". Barclays also provided two of Mugabe's associates with bank accounts, ignoring European Union sanctions on Zimbabwe. The men are Elliot Manyika and minister of public service Nicholas Goche. Barclays has defended its position by insisting that
2014-546: The bank volunteered the names of Jewish employees, as well as ceding an estimated one hundred Jewish bank accounts to the German occupiers. The Paris branch used its funds to increase the operational power of a large quarry that helped produce steel for the Germans. There was no evidence of contact between the head office in London and the branch in Paris during the occupation. Marcel Cheradame
2067-491: The closure of their operation in Peterborough and its re-siting to Glasgow, laying off nearly 900 members of staff. On 30 August 2007, Barclays was forced to borrow £1.6 billion (US$ 3.2 billion) from the Bank of England sterling standby facility. This is made available as a last-resort when banks are unable to settle their debts to other banks at the end of daily trading. Despite rumours about liquidity at Barclays,
2120-541: The consortium led by Royal Bank of Scotland Group free to proceed with its counter-bid for ABN AMRO. To help finance its bid for ABN AMRO, Barclays sold a 3.1% stake to China Development Bank and a 3% stake to Temasek Holdings , the investment arm of the Singaporean government. Also in 2007, Barclays agreed to purchase Equifirst Corporation from Regions Financial Corporation for US$ 225 million. That year also saw Barclays Personal Investment Management announcing
2173-560: The extraordinary meeting. Sheikh Mansour and Qatar Holding agreed to open up £500 million of their new holdings of reserve capital instruments for clawback . Existing investors now took this up. Bob Diamond led the effort to purchase the North American business of Lehman Brothers after its bankruptcy in September 2008, securing Barclays a presence in U.S. Equities and Investment Banking. On 16 September 2008, Barclays announced its agreement to purchase, subject to regulatory approval,
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2226-419: The investment-banking and trading divisions of Lehman Brothers (including its New York skyscraper) which was a United States financial conglomerate that had filed for bankruptcy. Financial Stability Board The Financial Stability Board ( FSB ) is an international body that monitors and makes recommendations about the global financial system . It was established in the 2009 G20 Pittsburgh Summit as
2279-426: The loan was necessary due to a technical problem with their computerised settlement network. A Barclays spokesman was quoted as saying "There are no liquidity issues in the U.K markets. Barclays itself is flush with liquidity." On 9 November 2007, Barclays shares dropped 9% and were even temporarily suspended for a short period of time, due to rumours of a £4.8 billion (US$ 10 billion) exposure to bad debts in
2332-489: The name Barclays Bank (Dominion, Colonial and Overseas)—Barclays DCO. In 1938, Barclays acquired the first Indian exchange bank, the Central Exchange Bank of India, which had opened in London in 1936 with the sponsorship of Central Bank of India . In 1941, during the German occupation of France , a branch of Barclays in Paris, headed by Marcel Cheradame, worked directly with the invading force. Senior officials at
2385-517: The original head office in Woolwich . Barclays closed 171 branches in the UK in 2001, many of them in rural communities: Barclays called itself "The Big Bank", but this name was quickly given a low profile after a series of embarrassing PR stunts. On 31 October 2001, Barclays and CIBC agreed to combine their Caribbean operations to establish a joint venture company known as FirstCaribbean International Bank (FCIB). In April 2002, Barclays enacted
2438-403: The same term [REDACTED] This disambiguation page lists articles associated with the title BZW . If an internal link led you here, you may wish to change the link to point directly to the intended article. Retrieved from " https://en.wikipedia.org/w/index.php?title=BZW&oldid=1218286609 " Category : Disambiguation pages Hidden categories: Short description
2491-452: The slave trade in 1756. David Barclay of Youngsbury (1729–1809), on the other hand, was a noted abolitionist , and Verene Shepherd , the Jamaican historian of diaspora studies , singles out the case of how he chose to free his slaves in that colony . In 1776, the firm was styled "Barclay, Bevan and Bening" and remained so until 1785, when another partner, John Tritton, who had married
2544-414: The value of specific reforms that had been implemented by the Financial Stability Board stating that these had "dampened aftershocks from [global financial crises] rather than amplifying them". He expressed confidence in the FSB's strategies, stating that "resilience in the face of stress demonstrates the enduring benefits of G20 post-crisis reforms". The FSB published the pre-G20 summit letter in light of
2597-458: The world's first cash dispenser . Barclays has made numerous corporate acquisitions, including of London, Provincial and South Western Bank in 1918, British Linen Bank in 1919, Mercantile Credit in 1975, the Woolwich in 2000 and the North American operations of Lehman Brothers in 2008. Barclays has a primary listing on the London Stock Exchange and is a constituent of the FTSE 100 Index . It has
2650-508: The world's first cash machine , in Enfield ; Barclays Bank, Enfield . The British actor Reg Varney was the first person to use the machine. In 1969, a planned merger with Martins Bank and Lloyds Bank was blocked by the Monopolies and Mergers Commission , but the acquisition of Martins Bank on its own was later permitted. Also that year, the British Linen Bank subsidiary was sold to
2703-507: Was kept as the branch manager until he retired in the sixties. In May 1958, Barclays was the first UK bank to appoint a female bank manager. Hilda Harding managed Barclays' Hanover Square branch in London until her retirement in 1970. In 1965, Barclays established a US affiliate, Barclays Bank of California, in San Francisco . Barclays launched the first credit card in the UK, Barclaycard , in 1966. On 27 June 1967, Barclays deployed
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#17328481148512756-678: Was managed by a small secretariat housed at the Bank for International Settlements in Basel , Switzerland . The FSF membership included about a dozen nations who participate through their central banks, financial ministries and departments, and securities regulators, including: the United States , Japan , Germany , the United Kingdom , France , Italy , Canada , Australia , the Netherlands and several other industrialized economies as well as several international economic organizations. At
2809-806: Was to be used for Barclays mortgages. Barclays also exited retail-banking operations in the Caribbean-region which extended as far back as 1837 through selling of its joint venture stake in FirstCaribbean International Bank (FCIB) to CIBC for between $ 989 million and $ 1.08 billion. In March 2007, Barclays announced plans to merge with ABN AMRO , the largest bank in the Netherlands. However, on 5 October 2007 Barclays announced that it had abandoned its bid, citing inadequate support by ABN shareholders. Fewer than 80% of shares had been tendered to Barclays' cash-and-shares offer. This left
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