Barclays, a leading global bank, has announced the appointment of Antony Stephen as the new Chief Executive Officer of the Barclays Partner Finance (BPF) business. Stephen will assume his new role at the bank on October 4, 2021.
Before his appointment, Stephen served as the Managing Director for Stress Testing and Competitive Analytics at JPMorgan Chase.
Stephen comes with extensive experience in the financial sector. For more than 25 years, he has served in the global payments and financial services sector. He has also served as the Head of Amazon Payments in Europe.
During his entire career in the financial sector, he has handled more than $50 billion worth of portfolios related to payment products such as loans, credit cards and even worked with a marketplace for financial services.
The announcement also stated that Stephen would work for the point-of-sale- financial aspect of the bank. He will also head Barclays Cubed, an innovative commerce platform developed by the bank.
Speaking on his appointment, Stephen stated that “this is an incredibly exciting time for point-of-sale finance while the core business model has existed for a long time, it has surged in popularity and prominence in recent years, thanks to advancements in technology and changes in customer behaviour. With its unrivalled network of both customers and major retailers, Barclays recognized the fantastic opportunity it has to lead the market, and I’m thrilled to be joining the bank at this pivotal moment.”
In the official announcement, the bank also stated that BPF was a leading point-of-sale finance service provider in the UK. The bank also mentioned that this division offered regulated BNPL lending. Stephen’s appointment comes when this division is looking to accelerate its growth in the UK.
In the last few months, Barclays has increased its human resources in the UK and other regions. This month, the institution appointed Davide Sala as the new Managing Director and the Head of Industrials for Africa, Middle East and European regions.
In June, the institution also appointed Ee Ching Tay as the new head of Southeast Asia banking. Before his appointment, Tay was the Managing Director and Head of Southeast Asia at JPMorgan.