LONDON: Despite a recent admission by its chief executive that the bank ’is not very good at PR,’ Barclays is cutting four of its five communications divisions.
LONDON: Despite a recent admission by its chief executive that the
bank ’is not very good at PR,’ Barclays is cutting four of its five
Chief executive Matt Barrett’s comments were made in front of a
Parliamentary committee investigating public response to a succession of
PR debacles since January 1, including the fallout from charging
non-customers for using cash machines and the cost-cutting closure of
more than 170 rural branches.
The bank, which until now maintained a corporate PR center and separate
PR functions for its four major business divisions, is planning to merge
them all into one. Four communications director posts (those in the
Retail Financial Services, Corporate Banking, Barclays Capital and
Barclays Global Investors groups) will disappear in the shakeup.
Retail Financial Services communications director and board member Paul
Barber announced last week that he will be joining the Football
Association as marketing and commercial development director next month.
He claimed his departure is not linked to the recent furor over PR.
A Barclays spokeswoman said the bank would now institute a thorough
review of ’how unpopular decisions are communicated.’ The bank’s
corporate PR center, led by corporate communications director Leigh
Bruce, employs Brunswick as agency of record.