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Barclays To Set Up Venture-Type Unit In UK To Drive Growth

Barclays, gearing up to drive more innovation, and thus profit, in its U.K. business is creating a venture capital-type unit.

According to news from Reuters, Barclays has been having a tough time boosting growth in the U.K. and is launching Barclays UK Ventures to turn that around. The unit will be led by Ben Davey, former head of Barclays group strategy. Davey will spend his time creating new business lines, promoting innovation and thus driving more returns.

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