Barclaycard is understood to have appointed Barclays’ marketing dir-ector for consumer lending, Paul Parmenter, as its new commercial director.
Parmenter, who was marketing director for Barclays’ direct loan business, Mercantile Credit, will replace Shaun Powell, who is leaving Barclaycard next month to join Thomson Holidays as marketing director (MW May 1).
Powell has been with Barclaycard for four years, joining from Homepride where he was marketing controller. He was responsible for forming alliances with Ford and Cellnet and he introduced Barclaycard Assist.
Sources close to Barclaycard say Parmenter is likely to continue the credit card’s premium pricing strategy, and will not reduce its annual percentage rate (APR) or remove its annual fee. However, they say it is unlikely that Barclays will agree to roll out Barclaycard across Europe, as has been speculated.
Parmenter previously worked for Walkers Snack Foods and Olympus Sport. Last year, he appointed Publicis and its media buying agency Optimedia to handle the 3m relaunch of the Barclays Mercantile Credit brand.
Barclaycard is the market leader in the credit card sector with more than 9 million cards in circulation. It recently renegotiated a one-year contract with the star of its television commercials, Rowan Atkinson, who plays Richard Latham.
Barclaycard spends 15m a year advertising its services, through BMP DDB.