Barclays to overhaul back-office operations to cope with ring-fencing

London

BARCLAYS plc is about to overhaul its back-office operations under a restructuring to help it comply with new post-crisis rules forcing British banks to ring-fence their retail operations from their riskier business.

It has formed a new company that will operate as a standalone unit providing support services to both of its two main operations when they are formally separated - retail and investment banking, the bank said.