Barclays has created a new senior in-house legal role at Barclays UK, the retail banking franchise set up earlier this year in response to the UK’s new ring-fencing regime.

Long-serving Barclays lawyer Paul Loftus, who has spent 13 years at the bank after joining from Clifford Chance in 2004, took up the position of head of legal for banking products and propositions at Barclays UK last month.

Featured Jobs

Law Firms Mentioned

<a href="http://www.almcms.com/contrib

  • Clifford Chance
  • Norton Rose Fulbright
  • Slaughter May

/uploads/sites/378/2016/06/Barclays-Article-201606281040.jpg"><img class="alignnone size-full wp-image-12179" src="http://www.almcms.com/contrib

  • Clifford Chance
  • Norton Rose Fulbright
  • Slaughter May

/uploads/sites/378/2016/06/Barclays-Article-201606281040.jpg" alt="" width="616" height="372" /></a> <section class="m_2671291282599635730gmail-m_-7836536009923812017gmail-article-header-section"><header class="m_2671291282599635730gmail-m_-7836536009923812017gmail-headline-section m_2671291282599635730gmail-m_-7836536009923812017gmail-col-lg-8"> <div class="m_2671291282599635730gmail-m_-7836536009923812017gmail-row m_2671291282599635730gmail-m_-7836536009923812017gmail-article-row"> <div class="m_2671291282599635730gmail-m_-7836536009923812017gmail-col-lg-10 m_2671291282599635730gmail-m_-7836536009923812017gmail-col-xs-12"> <p class="m_2671291282599635730gmail-m_-7836536009923812017gmail-article-title">Barclays has created a new senior in-house legal role at Barclays UK, the retail banking franchise set up earlier this year in response to the UK's new ring-fencing regime.</p> </div> </div> </header></section> <div id="m_2671291282599635730gmail-m_-7836536009923812017gmail-main-article-chunk" class="m_2671291282599635730gmail-m_-7836536009923812017gmail-row m_2671291282599635730gmail-m_-7836536009923812017gmail-article-row"> <div class="m_2671291282599635730gmail-m_-7836536009923812017gmail-col-lg-8 m_2671291282599635730gmail-m_-7836536009923812017gmail-main-article-content"><section class="m_2671291282599635730gmail-m_-7836536009923812017gmail-main-article-section"> <div class="m_2671291282599635730gmail-m_-7836536009923812017gmail-row"> <div class="m_2671291282599635730gmail-m_-7836536009923812017gmail-col-lg-10 m_2671291282599635730gmail-m_-7836536009923812017gmail-col-xs-12 m_2671291282599635730gmail-m_-7836536009923812017gmail-article-content"> <div class="m_2671291282599635730gmail-m_-7836536009923812017gmail-article-body"> Long-serving Barclays lawyer Paul Loftus, who has spent 13 years at the bank after joining from Clifford Chance in 2004, took��up the position of head of legal for banking products and propositions at Barclays UK last month. The new position has been created as the bank reshuffles its in-house legal team in preparation for fully��<a href="https://www.home.barclays/about-barclays/ring-fencing-explained.html" target="_blank" data-saferedirecturl="https://www.google.com/url?hl=en&amp;q=https://www.home.barclays/about-barclays/ring-fencing-explained.html&amp;source=gmail&amp;ust=1507375364864000&amp;usg=AFQjCNG0hjdCEeDdrm46DdDBDjlZJYy72A">ring-fencing its retail��operations from its investment banking activities next April</a>. Barclays UK will transfer into the ring-fenced bank, which will provide day-to-day products and retail banking services to individuals and small businesses and will be��independent from Barclays International, which will offer products and services��to its corporate and investment banking clients. In his new role, Loftus��will be��responsible for Barclays��� current and proposed regulated banking products in the UK, and for aspects of the bank���s international and offshore operations. He��was previously head of legal for banking and customer and client experience, a role he held for three and a half years, before which he spent three years as director of litigation and special investigations for the bank���s retail and business division. He reports to Barclays UK general counsel Stephanie Pagni. Pagni, who took up the role of Barclays UK��GC in March, was previously global head of litigation, investigations and enforcement. She replaced��former UK GC Mark Chapman, who left the bank��after just a year in the role. Barclays group GC Bob Hoyt will��lead the��Barclays Corporate &amp; International legal division. It is understood that the legal restructuring, which is ongoing, has not led to any job losses. The ring-fencing reforms were announced in 2011 in Sir John Vickers��� Independent Commission on Banking report, as part of a push to strengthen the UK���s financial system following the crisis. The reforms are designed to protect��consumers��by ensuring that retail banking operations��are shielded from any��problems in��a bank���s��investment banking business.��Large banks are required to implement the reforms by 1 January 2019. Barclays is understood to have��<a href="http://www.legalweek.com/legal-week/news/2442459/allen-overy-linklaters-and-slaughters-among-firms-advising-top-uk-banks-on-ringfencing" target="_blank" data-saferedirecturl="https://www.google.com/url?hl=en&amp;q=http://www.legalweek.com/legal-week/news/2442459/allen-overy-linklaters-and-slaughters-among-firms-advising-top-uk-banks-on-ringfencing&amp;source=gmail&amp;ust=1507375364864000&amp;usg=AFQjCNGUkEFp9MhwZhmuuAhax0bXgOD_GA">turned to Slaughter and May and Addleshaw Goddard</a>��for advice on the ring-fencing process.��<a href="http://www.legalweek.com/sites/annaward/2016/01/28/allen-overy-linklaters-and-slaughters-among-firms-advising-top-uk-banks-on-ringfencing/" target="_blank" data-saferedirecturl="https://www.google.com/url?hl=en&amp;q=http://www.legalweek.com/sites/annaward/2016/01/28/allen-overy-linklaters-and-slaughters-among-firms-advising-top-uk-banks-on-ringfencing/&amp;source=gmail&amp;ust=1507375364864000&amp;usg=AFQjCNHqEJtvu1P-mEKv2UhljeA-jwEsDg">Other law firms advising major banks on the process</a>��include��Allen &amp; Overy and Norton Rose Fulbright for HSBC and��Linklaters��for Lloyds. </div> </div> </div> </section></div> </div> <

  • Clifford Chance
  • Norton Rose Fulbright
  • Slaughter May

>
Law.com Pro

More From ALM

Premium Subscription

With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. This is perfect for attorneys licensed in multiple jurisdictions or for attorneys that have fulfilled their CLE requirement but need to access resourceful information for their practice areas.
View Now

Team Accounts

Our Team Account subscription service is for legal teams of four or more attorneys. Each attorney is granted unlimited access to high quality, on-demand premium content from well-respected faculty in the legal industry along with administrative access to easily manage CLE for the entire team.
View Now

Bundle Subscriptions

Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. Our second option allows you to build your bundle and strategically select the content that pertains to your needs. Both options are priced the same.
View Now
Go to CLE Center

The British Legal Awards (BLA) 2023

November 29, 2023
London

Celebrating achievement, excellence, and innovation in the legal profession in the UK.


Learn More

Legalweek Leaders in Tech Law Awards 2024

January 29, 2024
New York, NY

Recognizing innovation in the legal technology sector for working on precedent-setting, game-changing projects and initiatives.


Learn More

Legalweek New York 2024

January 29, 2024 - February 01, 2024
New York, NY

Legalweek New York explores Business and Regulatory Trends, Technology and Talent drivers impacting law firms.


Learn More
Go to Events Go to Webcasts

Transactional Intellectual Property / Corporate Lawyer - CT or Remote


We are seeking a lawyer with extensive transactional intellectual property experience to join our corporate practice. Candidates should hav...


Apply Now ›

Health Law Associate CT


Health Law Associate CT Shipman is seeking an associate to join our national longstanding health law practice. Candidates must have t...


Apply Now ›

Mid-Level Commercial Litigation Associate -- New York


Qualifications: Admitted in New York state court and federal courts in New York. Experience practicing in commercial litigation in New Yor...


Apply Now ›
Go to Lawjobs

Chiesa Shahinian & Giantomasi

09/25/2023
New Jersey Law Journal

Prof


View Announcement ›

RIKER DANZIG SCHERER HYLAND & PERRETTI LLP

09/18/2023
New Jersey Law Journal

Riker Danzig deeply mourns the passing of our esteemed partner, dear friend and beloved colleague, Marc D'Angiolillo.


View Announcement ›

Eisenberg, Rothweiler, et.al

09/12/2023
TLI Web

Eisenberg Rothweiler


View Announcement ›
Go to Professional Announcements

Legal Newswire

eDiscovery Leader PageOne Welcomes New VP of Strategy
ECFX Welcomes Six Exceptional New Team Members to Drive Innovation and Growth
Addition of Two New Partners Continues Sterlington s Expansion: Jennifer Czeisle...
TITAN ASSET MANAGEMENT GETS DRAGGED INTO MULTI-MILLION DOLLAR TORTIOUS INTERFERE...
Submit a press release