Barclays Drops ‘Capital’ From Its Name
May 14, 2012
Barclays Plc, the U.K.-based bank with operations around the world, dropped the “Capital” from its previous corporate brand “Barclays Capital” in a broad streamlining move that most conspicuously affected the name of its many indexes.
All those indexes will be marketed solely using the Barclays name, the company said in a letter to clients from Waqas Samad, head of Index, Portfolio and Risk Solutions at Barclays.
“Rest assured that the indices will not be changing in any other respect as a result of this name change, and we will be working closely with our clients and partners to ensure a smooth transition for the branding of index-linked products,” Samad wrote in the letter.
The world’s biggest fixed-income ETF uses a Barclays index. That’s the $22.84 billion iShares Barclays TIPS Bond Fund (NYSEArca: TIP). Other popular bond ETFs are designed around Barclays indexes, including the $15 billion iShares Barclays Aggregate Bond Fund (NYSEArca: AGG) and the $3.12 billion iShares Barclays 20+ Year Treasury Bond Fund (NYSEArca: TLT).
The change was effective at the beginning of April, and, apart from the letter to clients, the company didn’t formally announce the change in a press release, a Barclays official said.