Chamber relieved that Barclays stays

The Chamber, on behalf of its members, is heartened by Barclays’ decision to continue its operation in Gibraltar albeit with the unfortunate reduction in employee numbers in the coming months.

In recent weeks a number of our board directors have met with senior members of Barclays’ UK management team and have also been in contact with the All Party Parliamentary Group in the House of Commons.  The efforts of the Chamber have been directed at persuading them of the value and viability of Barclays’ operations in Gibraltar.

A delegation from the Chamber met yesterday with Barclays’ management following their announcement on Wednesday. Whilst for the short term services will remain as before, the Chamber will continue to lobby for a full and meaningful presence into the future.

Barclays’ management made clear that they are no longer pursuing a sale of their Gibraltar operation. Their focus is now on the review of staff numbers and the Chamber will resume its dialogue with Barclays’ management once the redundancy figures are known and the likely impact of the changes to the overall operation can be measured.

As a valued and long standing member of Gibraltar’s business community, the Chamber directors will work with Barclays’ management to convince them of further opportunities which may exist to develop their business in Gibraltar. In this regard, the Chamber welcomes Barclays’ intention to consult with it and more widely with the local community and encourages them to make the necessary additional investment in their operations in Gibraltar.