By Ben Simmons

Barclays today announces the appointment of Steve Weston as Managing Director of Retail Lending in its UK Retail and Business Banking division.

Mr Weston’s appointment comes as Barclays continues to grow its UK Retail and Business Banking division, as reaffirmed in last week’s results, which showed a 60 per cent increase in adjusted profit before tax for the year 2011. He will be responsible for leading mortgage and consumer lending strategy and for the continued development of products and services in these areas, whilst meeting the evolving needs of borrowers. He will sit on the UK Retail and Business Banking executive committee, reporting to Ashok Vaswani, Chief Executive Officer, UK Retail and Business Banking, Barclays.

Mr Weston joins Barclays from National Australia Bank (NAB), where he has been employed since 2009 in the position of General Manager, Broker Platforms, based in Melbourne, Australia. He has worked in the financial services industry for 27 years and over the past decade has held various executive roles in retail and business banking with St.George Bank, Challenger Financial Services and most recently with NAB. Mr Weston has extensive experience in leading end-to-end mortgage businesses in Australia. Those businesses have been acknowledged for their innovation, in particular the development of tailored products for borrowers.

Mr Weston said: “Barclays already has a strong track record in the UK retail banking market and I intend to help build upon this. The economic climate has presented massive challenges for lenders over the last few years, but Barclays is well positioned for further success. I am excited about the new opportunities and challenges that lay ahead in 2012 and beyond”.

Welcoming the new appointment Ashok Vaswani, Chief Executive Officer, UK Retail and Business Banking, Barclays said: “I am delighted to have attracted someone of Steve’s calibre to join us at Barclays. He brings with him a wealth of knowledge and experience and he will be a welcome addition to the team. I am excited about the opportunities his fresh thinking and external experience from an overseas mortgage market will bring to help us drive forward our strategy and deliver innovative products and services to our UK customers.”

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