New York Banking Department Approves License for Barclays Bank PLC to Open Representative Office in Long Island City
Barclays Office Opening Will Bring More Than 200 Jobs to Queens
November 25, 2008
New York, NY: The New York State Banking Department today announced its approval of an application for Barclays Bank PLC to establish and maintain a foreign representative office in Long Island City, New York. The office supporting Barclaycard, the bank’s British credit card and consumer finance business, will generate more than 200 jobs by the fourth quarter of 2009.
This is the second office for Barclays PLC, which has had an existing branch office in Manhattan since 1963. Barclays PLC is a major global financial services provider offering banking, investment banking and investment management services. The holding company operates through its sole subsidiary, Barclays Bank PLC, the third largest bank in the United Kingdom.
Barclaycard is Barclays’ credit card, consumer lending and payments division. It was the first credit card issuer in Europe and is one of the largest global credit card companies, currently operating in more than 50 countries.
The New York State Banking Department is the regulator for all state-chartered banking institutions, virtually all of the United States offices of international banking institutions, all of the State’s mortgage brokers, mortgage bankers, check cashers, money transmitters and budget planners. The aggregate assets of the depository institutions supervised by the Banking Department are more than $2.2 trillion.In addition to regulating banking institutions, the Banking Department is active in informing and educating all New Yorkers on banking matters. To contact the Banking Department, please call 1-877-BANK-NYS or visit our Web site at www.banking.state.ny.us.