Amer Sajed, CEO of Barclaycard US, will take interim charge of the Barclaycard business following Ms. Soranno Keating's departure while an internal and external search for a successor is conducted.

Commenting today, Antony Jenkins, Group Chief Executive, said:

"Val has made a significant contribution to the growth and development of Barclaycard during her five years leading the business. Her strategic leadership, energy and commitment have been the hallmarks of her tenure as CEO. Val is leaving a strong legacy which is clear in the financial performance and trajectory of the business. We will be sad to see her leave and I know everyone at Barclays will join me in wishing her well for the future."

Commenting on her decision to step down, Ms. Soranno Keating said:

"After more than five great years leading Barclaycard to more than double its size I feel the time is right to find a new professional challenge. It is a real testament to the commitment of my colleagues that we have made Barclaycard into the global payments leader it is today. I could not be more proud for having led this business during this important chapter in its history and look forward to seeing what Barclaycard will achieve during this next chapter."