British bank Barclays announced on Thursday the appointment of former economy minister and right-wing figure François Baroin as president of its French subsidiary.
British bank Barclays announced on Thursday the appointment of former economy minister and right-wing figure François Baroin as president of its French subsidiary. “The experience and stature of François Baroin make him an ideal choice to become Chairman (president, editor’s note) for France”, explains Francesco Ceccato, CEO of Barclays Europe, quoted in a press release. “By expanding his role, he will be able to contribute even more strongly to the expansion of our activities in France,” he continues.
Mr. Baroin will notably have the task of participating in the development of relations with the bank’s major clients and the promotion of all the activities and solutions offered by Barclays in France, it is specified. The mayor of Troyes (Aube), 56, has exercised since 2018 an advisory role within the bank on investment banking professions. Former parliamentarian, François Baroin was several times minister of right-wing governments between 2005 and 2012, in particular of the Interior, Budget and Economy and Finance. He led until 2021 the powerful Association of Mayors of France (AMF).
The British bank employs around 300 people in France, with an investment banking activity but also investment, financing and private banking. Barclays has in the past worked as a retail bank in France, before announcing its withdrawal in 2014. A social plan and the sale of the branches in 2017 to the investment fund AnaCap Financial Partners led to the creation of Milleis Banque, launched in 2018. Other former ministers have chosen the private sector: the former colleague of Mr. Baroin Nathalie Kosciusko-Morizet went through Capgemini while the former Prime Minister François Fillon had joined the asset management company and investment company Tikehau Capital. Fleur Pellerin, former Minister of Culture under François Hollande, for her part founded an investment fund, Korelya Capital, in 2016.
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