Barclays has taken a further step towards preparing for new rules that separate UK retail banking from riskier trading and investment banking work, with a series of board-level appointments for a new support unit.

The group's new structure will see its UK retail banking, wealth and consumer credit cards business shifted into a new ring-fenced bank. The shift will take place in the first half of next year. Corporate banking, investment banking, Barclaycard and its private bank will be part of the non-ring-fenced unit, Barclays International.