Barclays Corporate Banking has appointed the two new top executives of its insurance coverage group in the UK.
The finance giant has named James Morris as the group leader for UK insurance and Dan Broome as deputy. Their team is responsible for banking relationships in London and in broader UK markets.
The insurance team also collaborates with the bank’s geographic footprint across the US, Europe, Africa and Asia. It also works closely with Investment Banking and Barclaycard.
Morris moves to insurance after serving as head of Barclays’ Asia Multinational corporate desk for the past five years.
A Barclays mainstay for about 17 years, Morris also worked as Europe and Asia subsidiary corporate director, relationship director, corporate banking strategy team leader and senior strategy manager.
Meanwhile, Broome returns to the London and European markets after spending the last three years on Barclays’ New York-based US insurance coverage desk.
Broome also served as Barclays Bank director in London and as relationship manager at Lloyds Bank Corporate Markets.
The latest appointments followed reports that Barclays has finalized the sale of its insurance operations in Italy to CNP Assurances.
The transaction, which involves €700mn in assets under management is seen to reduce Barclay’s annual costs by around €5mn.