Sorry could not resist ...Barclays goes for a waterskiing high...

Sorry could not resist ...

Barclays goes for a waterskiing high flyer
By Julia Kollewe, Banking Correspondent
Published: 31 August 2005

Barclays has brought in an award-winning American banker to help with the revamp of its retail banking operations.

Deanna Oppenheimer is joining Barclays as UK banking chief operating officer from Seattle-based Washington Mutual, where she has worked for 20 years. She will start in the middle of October and report to Roger Davis, the chief executive of UK banking.

The appointment, just below board level, comes at a time when Barclays is trying to turn around its UK retail banking operations by improving customer service and refurbishing branches. The bank's first-half results showed a 2 per cent drop in profits at its retail arm to £558m.

Barclays is not the only British bank to draw on the expertise of a top American banker to revamp its lacklustre UK retail banking business amid tough competition. The appointment follows the recruitment by Lloyds TSB of the high-flying US executive Terri Dial, who previously headed the retail arm at the American bank Wells Fargo. She now runs Lloyds' retail arm and sits on the bank's board.

Ms Oppenheimer, who is known for her penchant for waterskiing, takes over from Wai Au, who has been appointed as director of global servicing. Mr Davis said: "Our strategy is to reshape our cost base while transforming the Barclays experience for all our customers." He added that Ms Oppenheimer was "well placed to make a crucial contribution to helping us achieve our goals."

The bank's target is to cut its cost-income ratio by 2 percentage points this year and the next two years. In her new role, Ms Oppenheimer will focus on improving customer service and streamlining front and back-office processes.

At Washington Mutual, Ms Oppenheimer, 47, has driven an innovative retail strategy. She changed the face of banking by introducing children's play areas in branches. Under her guidance, Washington Mutual was named best retail bank in the Americas in the 2003 Lafferty Awards. Ms Oppenheimer stepped down from Washington Mutual in March.

Barclays has brought in an award-winning American banker to help with the revamp of its retail banking operations.

Deanna Oppenheimer is joining Barclays as UK banking chief operating officer from Seattle-based Washington Mutual, where she has worked for 20 years. She will start in the middle of October and report to Roger Davis, the chief executive of UK banking.

The appointment, just below board level, comes at a time when Barclays is trying to turn around its UK retail banking operations by improving customer service and refurbishing branches. The bank's first-half results showed a 2 per cent drop in profits at its retail arm to £558m.

Barclays is not the only British bank to draw on the expertise of a top American banker to revamp its lacklustre UK retail banking business amid tough competition. The appointment follows the recruitment by Lloyds TSB of the high-flying US executive Terri Dial, who previously headed the retail arm at the American bank Wells Fargo. She now runs Lloyds' retail arm and sits on the bank's board.
Ms Oppenheimer, who is known for her penchant for waterskiing, takes over from Wai Au, who has been appointed as director of global servicing. Mr Davis said: "Our strategy is to reshape our cost base while transforming the Barclays experience for all our customers." He added that Ms Oppenheimer was "well placed to make a crucial contribution to helping us achieve our goals."

The bank's target is to cut its cost-income ratio by 2 percentage points this year and the next two years. In her new role, Ms Oppenheimer will focus on improving customer service and streamlining front and back-office processes.

At Washington Mutual, Ms Oppenheimer, 47, has driven an innovative retail strategy. She changed the face of banking by introducing children's play areas in branches. Under her guidance, Washington Mutual was named best retail bank in the Americas in the 2003 Lafferty Awards. Ms Oppenheimer stepped down from Washington Mutual in March."