Barclays scotches FT story on Woolwich plan

An FT report last week stated that Barclays is considering giving The Woolwich a greater in-branch presence as well as reducing the number of processing centres it has in the UK to boost its offshore presence.

The newspaper put these changes down to Deanna Oppenheimer, who was brought in from Washington Mutual and said the bank is poised to unveil the shake-up later this month.

It reported that Barclays could move more of The Woolwich’s operations into bank branches.

But Hilary McVitty, spokeswoman for Barclays, says the FT story is pure speculation.

McVitty says: “This is speculative stuff. We have made no announcements about our plans.”

Barclays bought The Woolwich for 5.3bn in 2000.