15th Jul 2015 08:29
LONDON (Alliance News) - Mike Rake is set to leave his position as the deputy chairman of Barclays PLC to become chairman of payments processing company Worldpay, Sky News reports.
Rake will join Worldpay ahead of its planned flotation on the London Stock Exchange. Press reports in June said Worldpay is intending to launch a GBP6 billion float in 2016, which would make it large enough to become a FTSE 100 constituent.
The Times had reported earlier on Wednesday that Rake was to leave the bank, though it did not name the company of which he was intending to take the chairmanship. He will retain his role as BT Group PLC's chairman, Sky said.
Rake is understood to have been instrumental in ousting Antony Jenkins as Barclays chief executive last week.
http://news.sky.com/story/1519194/sir-mike-rake-to-leave-barclays-board
By Sam Unsted; [email protected]; @SamUAtAlliance
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