Barclays’ deputy denies quit reports

MICHAEL Rake, the deputy chairman of Barclays, yesterday said he had no plans to resign, after the Financial Times reported he would depart “as soon as feasible” and probably within six months.

By The Newsroom

Published 27th Oct 2012, 07:00 BST

Mr Rake said yesterday: “Contrary to this morning’s media report and, as I have made clear, I have no present intention to stand down from the Barclays’ board.”

Mr Rake, the chairman of telecoms company BT Group and airline easyJet, ruled himself out of the running for the chairmanship of Barclays in July. The new chairman, David Walker, has made clear that he wants to add non-executive directors to bolster Barclays’ board.

Barclays lost a number of senior executives, including chief executive Bob Diamond, in the fallout from the Libor rate-rigging scandal which engulfed the bank and led to a £290m settlement with regulators.

Mr Walker, who takes up his role in November, has begun to reshape the board. He recently appointed former insurance boss Tim Breedon as a new non-executive director.

Barclays