Aligning Strategy with Client Objectives
Maurice Cleaves, Global Head of Cash Management, Barclays Corporate
In this edition, we welcome Maurice Cleaves, Global Head of Cash Management at Barclays Corporate, who discuss the bank's cash management strategy. Maurice joined from Deutsche Bank, where for the past four years he was responsible for the EMEA region Cash Management Product organisation. During this time he had the responsibility for building and managing an EMEA proposition.
Prior to Deutsche, Maurice was at JP Morgan Chase for 26 years, holding positions in Operations, Product and Business Management Sales, Product Development, and Risk Management with the Cash Management, Securities Clearance and Corporate Trust businesses.
Maurice has also been a Director of SWIFT UK, CHAPS, APACS and a Director of the UK Payments Council.
How would you describe Barclays’ cash management strategy?
Our focus has been on defining where Barclays fits in the competitive business of cash management - how to develop our client proposition, and where we have opportunities for growth.
Our expansion strategy is and has been, entirely client-driven.
In the UK, Barclays Corporate has a significant presence, with some client relationships which go back more than 200 years.
Outside of the UK, we have pockets of expertise and pockets of influence, that we need to bring together. So, the first part of our global cash management strategy is an investment programme that brings together the countries where our expertise lies.
We already have substantial business in countries such as Spain, Italy, Portugal and France, so we will be consolidating our activities and have plans for considerable further expansion in 2012, in line with our customers’ requirements. Growing out into the areas where perhaps we’re under penetrated, will be the second part of our global cash management strategy.
In Africa, we already have a unique domestic and regional proposition that is proving increasingly valuable to our clients, as the continent continues to witness stability and growth, presenting exciting new expansion opportunities.
In summary, the way that we will grow and shape our cash management business will partly be on the basis of where our ‘home market’ is, partly on where our expertise is currently, and partly where we need to follow our clients and grow our geographic footprint.
We are now very much looking to strengthen our cash management product set and help our clients with their global cash management needs.
What was the business rationale behind the strategy to expand in mainland Europe?
Our ‘home market’ is the UK - many of our clients are headquartered, or have substantial business in the UK.
Our expansion strategy is, and has been, entirely client-driven, and we are committed to providing the appropriate level of service to meet the needs of our clients as they seek to develop their business internationally. Having achieved considerable success in the European markets where we already have a presence, we are confident in our ability to build a strong portfolio of services across Europe.
Also, following years of change in the European cash management space, it’s the right time for Barclays Corporate to take advantage and drive further growth in mainland Europe.
We’re not burdened with a legacy infrastructure, which puts us in a good position to build for the new European environment.
Apart from extending and expanding the business in new markets, how do you envisage that your strategy will be manifested to your customers?
Barclays has always been committed to providing solutions that meet the needs of our clients and helping them to achieve financial success. We continue to innovate and invest in areas such as technology, whilst aiming to make it as easy as possible for our clients to do business with us.
Therefore, clients can expect to see new intuitive interfaces and technological tools to support their communications with us.