The card unit of Barclays PLC will open a New York office as part of its global expansion plans.
The London banking company said Wednesday that it plans to hire more than 200 people over the next year for its new administrative office in the Long Island City neighborhood in the borough of Queens. The staff will focus on handling credit risk, with some corporate finance and market analytics responsibilities, for Barclays' credit card operations in the United States, Europe, Africa, and Asia. (The U.S. operation is headquartered in Wilmington, Del.)
Antony Jenkins, the chief executive of Barclaycard, said in a press release that the new office "represents an important first step in advancing our strategy of creating a truly global Barclaycard business."
New York was chosen for its "large pool of incredibly talented and experienced financial professionals that Barclaycard can draw upon to strengthen and grow its global operations," he said.