15th Jul 2015 11:57
LONDON (Alliance News) - Barclays PLC Wednesday said that Michael Rake will remain with the banking group until at least the end of 2015, amid reports that the deputy to Chairman John McFarlane is to become the chairman of payments processing company Worldpay.
Rake, who according to Barclays led its non-executive directors in a process that culminated in the decision to remove Antony Jenkins as the group's chief executive last week, is reportedly set to join Worldpay as the company prepares to either list on the London Stock Exchange or be otherwise sold by private equity firms Advent International and Bain Capital.
"Sir Michael Rake is the deputy chairman and senior independent director on the Barclays board. Sir Michael intends to continue in these positions, and be a member of the board, until at least the end of 2015. If and when he stands down from the Barclays board, a new Senior Independent Director will of course have been appointed," a Barclays spokesperson said in a statement.
Barclays shares were up 0.5% at 277.36 pence on Wednesday afternoon.
By Samuel Agini; [email protected]; @samuelagini
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