Barclays finally comments on Sir Mike Rake’s departure: He’ll be at the company until a new chief exec is in place July 16, 2015 A good 24 hours after the world learned that Sir Mike Rake was leaving Barclays, the bank has finally issued a comment. It seems the news caught the bank off guard – initially a spokesperson told City A.M. no resignation letter had been received and that as far as the business was concerned, he [...]
Barclays’ second boss in a week exits bank: Sir Mike Rake follows Antony Jenkins as chairman John “Mack the Knife” McFarlane wields axe July 15, 2015 Barclays deputy chairman Sir Mike Rake has become the second casualty of newly-installed chairman John McFarlane in a week, after he confirmed plans to leave the bank “by the end of 2015” yesterday – which leaves the rest of the Barclays board looking decidedly exposed, analysts have suggested. BT chairman and Confederation of British [...]
Beware, Barclays bankers: John “Mack the Knife” McFarlane is on a roll July 15, 2015 It was exactly a week to the day since John McFarlane, Barclays’ new chairman, claimed his first scalp, chief executive Antony Jenkins. Today his influence was felt again, after the imminent departure of deputy chairman Sir Mike Rake was revealed in rather chaotic fashion this morning. BT chairman and Confederation of British Industry president [...]
Sir Mike Rake to quit as Barclays deputy chairman by the end of the year as he signs up to chair Worldpay July 15, 2015 Barclays deputy chairman Sir Mike Rake will leave Barclays by the end of the year as he takes up a new role chairing payments processing company Worldpay. Rake told City A.M. this morning that, subject to regulatory approval, he will take up a position on its board on 1 September. Shares in the bank dipped [...]
Barclays is still months from hiring new chief executive after Antony Jenkins sacking July 14, 2015 Barclays, which abruptly sacked chief executive Antony Jenkins last Wednesday, might have to wait six months for a permanent replacement. The bank’s deputy chairman Sir Mike Rake told City A.M. yesterday: “We will take the time to find the person with the right level of experience. It will take a few months, but we would [...]
Bookies open new market on Barclays bosses July 9, 2015 SO BARCLAYS’ boss Antony Jenkins is sacked. John McFarlane, who’s only been chairman for three months, is acting chief, and the bookies have opened their markets. McFarlane said they want “the best person in the world available to us”. Barclays will be looking at internal and external candidates for the role. Who are you backing? First [...]
Return of the Mack: How Barclays chairman John McFarlane earned his reputation as “Mack the Knife” July 8, 2015 John McFarlane has barely been in situ three months as Barclays’ chairman, but this morning he claimed his first scalp: Antony “nicest guy in banking” Jenkins, the man appointed three years ago to bring out Barclays’ cuddly side, will step down at the end of next week. Read more: From the Libor scandal to the [...]
Summer Budget 2015: Barclays, HSBC, RBS share prices rise as Osborne reveals levy will be ditched July 8, 2015 Banks share prices lifted this afternoon as George Obsorne confirmed the levy would be phased out over the next six years. In a move widely seen as looking to sway HSBC, Standard Chartered et al from leaving the UK, Osborne's first all-Tory Budget confirmed that the levy would be cut gradually until 2022. Instead [...]
Antony Jenkins fired from Barclays: Here’s what people are making of it July 8, 2015 It might not be the best day for Antony Jenkins, but Barclays investors seem pretty happy with the news that he's been ousted. Barclays share price leapt 2.7 per cent at the open, rising to 3.2 per cent in mid-morning trading, comfortably leading the FTSE 100. The board has praised Jenkins for his work [...]
Antony Jenkins: His time at Barclays from the Libor scandal to the time he tried to ban free banks July 8, 2015 Barclays today revealed it has fired chief executive Antony Jenkins after three years at the helm, saying the bank needs a new leader, with a new set of skills, to take it into future growth. The move is widely seen as being instigated ahead of John McFarlane's arrival as executive chairman the middle of [...]