Barclays’ new Italian HQ is located at The Medelan building in Piazza Cordusio, Milan. Credit: Barclays PLC.

British banking giant Barclays has shifted its headquarters (HQ) in Italy to a new location in Milan to boost its business in the country.

Located at The Medelan building in Piazza Cordusio, the new HQ has been moved from the bank’s earlier location on Via della Moscova.

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The new office, which is situated between Duomo and Castello Sforzesco, helps Barclays to continue to do business from the centre of Milan.   

It also allows the bank to accelerate its business in the investment, corporate and private banking sectors throughout the country.

The office features improved facilities for employees as well as up-to-date technology that facilitate better collaboration and an enhanced workspace, among others.

Using a dedicated app, employees will be able to book their required space before arriving the office. This will support new modes of working at the office.

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Opening of the office allows the bank to comply with its strategy to promote a low-carbon economy and its plan to transform itself into a net zero bank by 2050.

Barclays Country CEO for Italy Enrico Chiapparoli said: “The Medelan is an historic building that has been modernised with outstanding, sustainable facilities, so it’s a perfect match for us – an historic institution established in 1690 that has been in Italy for 50 years and continues to innovate.

“We are delivering the power of the entire bank to help Italian businesses navigate change and achieve their bold visions for the future, what we call ‘powering possible’ for Italian corporates.

“We will use our new base as a springboard to further support our clients and the broader Italian economy for many years to come.”

The latest development comes shortly after a Bloomberg report that said that Barclays started job cuts across its investment-banking unit.