Barclays deputy chairman reportedly plans to step down

Barclays deputy chairman Sir Mike Rake is reportedly planning to step down just a week after its chief executive was fired.

It is understood Sir Mike is leaving to chair the board of payments processing firm Worldpay as boardroom upheaval at Barclays continues in the wake of the recent appointment of chairman John McFarlane.

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Chief executive Antony Jenkins was sacked last week amid reports of a boardroom fallout, with Mr McFarlane saying revenues had been lacklustre and shares had remained at the level they were six years ago.

Mr McFarlane has taken over duties from Mr Jenkins as executive chairman on an interim basis.

Barclays declined to comment on reports of Sir Mike’s departure.