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Barclays group finance director and senior lawyer to step down

Barclays Rain 480

Barclays group finance director Chris Lucas and group general counsel Mark Harding are stepping down from the bank.

Lucas has acted as group finance director at Barclays for around six years, while Harding, the bank’s most senior lawyer, has been at the bank for 10 years.

They will both remain in their roles until successors have been appointed. Barclays says the recruitment process has begun but it expects it to take a “considerable time” to complete.

Lucas is currently being investigated by the FSA over the disclosure of fees paid and whether these fees were linked to Barclays’ capital raisings in June and November 2008. Three other current and former Barclays employees are also being investigated.

Barclays says the departure of Lucas is unconnected to the investigations.

Group chief executive Antony Jenkins says: “Chris Lucas and Mark Harding both expressed to me late last year they were considering stepping down from their roles at Barclays.

“The rationale which each shared with me was consistent and, typically, grounded in wanting to do what is best for the bank. Their decision to retire was theirs alone.”

Group finance director Chris Lucas says: “It has been my great pleasure and privilege to serve as group finance director of Barclays for nearly six years now.

“While it has undoubtedly been the most eventful period during which anyone could have occupied a role such as mine, I have thoroughly enjoyed the challenge. However I think now is the appropriate time to begin my retirement from my role on the board and executive committee, and to pass the mantle on to a successor.”

Group general counsel Mark Harding says: “We are starting a new period of the bank’s development under Antony Jenkins’ leadership. I wholeheartedly support the direction of travel and have no doubt great success lies ahead. While it will be an exciting journey, I believe it also provides an obvious transition point, and one which I have decided to take.”

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Comments

There are 3 comments at the moment, we would love to hear your opinion too.

  1. It smacks of falling on your own sword……

  2. There is a rumour going round that there is a Barclays director who is not involved in any wrong doing and will not be resigning. However, it is only a rumour and not all rumours are true.

  3. I hear there are a lot of empty senior seats at the FSA. what music shall we play and who is pressing the on/off button?

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