Barclays banks on central buying team to save £20m
29 August 2012
Barclays Group hopes a move to centralise its procurement function will save it an additional £20 million in the next 12 months.
Until now sourcing has been carried out separately for four areas – Barclays Global Investors; Barclaycard; Barclays Capital; and the Barclays retail and corporate banking division.
But under changes championed by Paul Idzik, chief operating officer, they have now been combined into a single global organisation.
If the reorganisation is successful, it...