International

Barclaycard Business CEO Named

Barclays has named a new head of its credit card and payment divisions.

The New York Times reported on Wednesday (April 20) that Amer Sajed, who came on board with the firm 10 years ago, has become CEO of that unit effective immediately, said the company. Throughout Sajed’s tenure with Barclays, he has been chief of the Barclaycard business in the U.K. and in the United States. The executive has also been the interim chief executive officer of the larger Barclaycard business since May of last year.

The appointment of a permanent CEO for the unit marks the latest executive change instituted by relative newcomer company-wide CEO James E. Staley, who began in his own current role in Dec. 2015. In a statement, Staley said: “I’ve been impressed by Amer’s deep understanding of the global payments landscape. Barclaycard enjoyed its most successful year in 2015, and I am confident that, under Amer’s leadership, the business will continue to go from strength to strength.”

As has been widely reported, Staley is in the midst of revamping the financial firm by jettisoning operations not dovetailing with core operations, which would include the card business. As of now, the strategy has its points honed on two divisions, notably the British consumer bank and the corporate and investment operations, NYT said. Asia is getting streamlined. And now, revitalized efforts tie in with the United States and the U.K.

Staley has also been busy poaching execs from his old alma mater, JPMorgan. Earlier this year, the bank appointed a new chief risk officer, C.S. Venkatakrishnan. And Paul H. Compton, formerly JPMorgan chief administrative officer, is coming to Barclays as chief operating officer.

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