Barclays announces new CEO of point-of-sale finance business
Barclays has announced that Antony Stephen will be joining the Group on Monday 4 October 2021, as the new chief executive officer (CEO) for the Barclays Partner Finance (BPF) business, and its legal entity, Clydesdale Financial Services Ltd (CFSL).
Antony joins from Amazon and brings over 25 years’ experience in payments and financial services. Through his most recent role as head of Amazon Payments Europe, he led a $50+ bn portfolio of payment products including credit cards, instalment loans and a financial services marketplace.
As CEO of Barclays Partner Finance, Antony will report to Ruchir Rodrigues, head of Barclays Cubed & Consumer Bank Europe, with a focus on growing the point-of-sale finance business in the UK. Antony will also provide senior leadership to Barclays Cubed, Barclays’ next-generation commerce platform, designed to create value for consumers and merchants through the payments ecosystem.
Barclays Partner Finance is one of the UK’s leading providers of point-of-sale finance and regulated BNPL lending, working with world-class retailers to enable consumers to purchase products and spread the cost in a responsible and transparent way.
Antony Stephen said: “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 consumers and major retailers, Barclays recognises the fantastic opportunity it has to lead the market, and I’m thrilled to be joining the bank at this pivotal moment.”
Welcoming Antony’s appointment, Ruchir Rodrigues commented: “I am delighted that Antony is joining Barclays to lead our point-of-sale finance business, and that we’re able to attract talent of his calibre. Antony’s global experience with an industry-leading firm like Amazon and his passion for customer centricity will be invaluable in driving this business forward. His vision and leadership will add immense value to the team as we continue to create tangible value for the consumers and merchants that we serve”.
Barclays Cubed
Barclays Cubed is a next-generation commerce platform that uses sophisticated digital and data technology to create a value-exchange ecosystem between the bank’s millions of digitally-engaged customers and thousands of SME and corporate clients. Through its innovative services, Barclays Cubed is re-imagining the end-to-end shopping experience, enabling secure, frictionless and seamless interactions between consumers and merchants. Barclays Cubed forms a key part of the bank’s £900m income growth opportunity in payments, announced earlier this year at Barclays’ Q1 2021 results.
