Belfast Telegraph

Barclays boss set to take helm at pay firm

By Holly Williams

Barclays deputy chairman Sir Mike Rake is expected to leave at the end of the year after being appointed chairman of payments processing firm Worldpay.

Sir Mike will take up the post at Worldpay on September 1 and Barclays said he would hold both positions until "at least" the end of 2015, although it is understood he has already made it clear to the bank's board he plans to step down by early 2016.

Details of the appointment follow just a week after Barclays chief executive Antony Jenkins was fired.

Recently appointed chairman John McFarlane said a new leader was needed for the bank after revenue and shares growth had failed to impress.

Mr McFarlane is taking over duties from Mr Jenkins as executive chairman on an interim basis from tomorrow.

A spokesman for Barclays 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."

Belfast Telegraph