Barclays deputy chairman to step down


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.