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Barclays deputy chairman Sir Mike Rake quits Barclays deputy chairman Sir Mike Rake quits
(about 2 hours later)
Sir Mike Rake, the deputy chairman of Barclays since 2012, is quitting the bank, the BBC understands. Sir Mike Rake, the deputy chairman of Barclays since 2012, is quitting the bank.
The news comes just a week after Antony Jenkins, Barclays' chief executive, was fired after falling out with the board.The news comes just a week after Antony Jenkins, Barclays' chief executive, was fired after falling out with the board.
Sir Mike - who has been on the board since 2008 - is a "highly respected figure in the business world", said BBC business editor Kamal Ahmed. Sir Mike is taking up a job as the new chairman of payments processing firm Worldpay.
"I've been very impressed by the Worldpay story so far and am looking forward to being part of the journey," Sir Mike said.
"The payments industry has never been more exciting and Worldpay is at the forefront of this innovation," he added.
Sir Mike - who has been on the Barclays board since 2008 - is a "highly respected figure in the business world", said BBC business editor Kamal Ahmed.
His decision to leave "may well raise questions in investors' minds" at a time of transition, our reporter added.His decision to leave "may well raise questions in investors' minds" at a time of transition, our reporter added.
He is taking up a job as the new chairman of payments processing firm Worldpay, our business editor says, the firm formerly owned by Royal Bank of Scotland, starting in September.
Our business editor says officials at Barclays would like Sir Mike to stay in his post until the end of the year, to help with the hunt for a new chief executive.
Sir Mike was not believed to have been a huge supporter of Mr Jenkins, he adds.Sir Mike was not believed to have been a huge supporter of Mr Jenkins, he adds.
Sir Mike was a firm ally of Bob Diamond, the previous chief executive of Barclays, who came from the investment bank side of the business.Sir Mike was a firm ally of Bob Diamond, the previous chief executive of Barclays, who came from the investment bank side of the business.
Sir Mike is also chairman of BT Group and served as the chairman of the CBI, the British business organisation, from June 2013 until this year.Sir Mike is also chairman of BT Group and served as the chairman of the CBI, the British business organisation, from June 2013 until this year.
In response, a Barclays spokesperson said: "Sir Michael Rake is the deputy chairman and senior independent director on the Barclays Board.In response, a Barclays spokesperson said: "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.""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."