The newly-appointed City minister is set to take an expanded role in Brexit liaisons, reflecting the significance of the role ahead of the launch of negotiations with the EU.
Talks are set to kick off on Monday, with Brexit secretary David Davis due to sit down with EU chief negotiator Michel Barnier in Brussels.
And ahead of the negotiations, the Treasury has confirmed that Steve Barclay will enjoy a boosted position as City minister.
Barclay will now be the lead point of contact for Square Mile businesses looking to raise concerns.
It marks a return of significance to the role after Barclay's predecessor, Simon Kirby, was stripped of the EU remit in March.
That decision meant Kirby's fellow Treasury minister Baroness Neville-Rolfe briefly held the responsibility for talks with the City.
Kirby lost his seat of Brighton Kemptown at the General Election, while Neville-Rolfe stepped down from government after the election.