Barclays deputy chairman to step down

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Barclays deputy chairman Sir Mike Rake is stepping down from his role, the BBC reports.

He has been in the role since 2012 and is believed to be taking up a new job as chairman of payments processing firm Worldplay.

It comes just a week after the bank’s chief executive Antony Jenkins was sacked.

Barclays’ non-executive directors decided new leadership was needed, with Rake leading the call for change.

Rake said last week: “I reflected long and hard on the issue of group leadership and discussed this with each of the non-executive directors.

“Notwithstanding Antony’s significant achievements, it became clear to all of us that a new set of skills were required for the period ahead.”

Barclays chairman John McFarlane will take on the role of executive chairman until a new chief executive is hired.

Barclays declined to comment.