British bank Barclays announced on Thursday the appointment of former economy minister and right-wing figure Franois Baroin as non-executive chairman of its French subsidiary. A post created for the occasion.
Franois Baroin has an almost unrivaled knowledge of the French political and economic ecosystem, says Raoul Salomon, managing director of Barclays in France and responsible for market activities for all of Europe. He knows a lot of people, he has maintained relations with many leaders and entrepreneurs in his past life, in particular the Minister of the Economy, he told AFP, adding that he brings a little more global understanding. and access to these business leaders.
Franois Baroin will be responsible for 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, according to a press release. His position as chairman, non-executive and above all representative, was created for the occasion.
The mayor of Troyes (Aube), 56, has since 2018 exercised a role of external adviser within the bank, mainly on business banking. A former parliamentarian, Franois Baroin was several times minister of right-wing governments between 2005 and 2012, notably for the Interior, the Budget and the 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.
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A former retail bank in France
Barclays has in the past exercised the retail banking business 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 had led to the creation of Milleis Banque, launched in 2018.
Other former ministers have made the choice of the private sector: the former colleague of Mr. Baroin Nathalie Kosciusko-Morizet went through Capgemini, while the former Prime Minister Franois Fillon had joined the asset management and investment company. Tikehau Capital investment.
The anti-globalization NGO Attac has also chosen to press this point on Twitter, pointing the finger at Bercy as unquestionably THE great minister of revolving doors, referring to the back and forth of senior officials between the public and the private sector.
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