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Barclays finance director to step down this week on health grounds
by James Phillipps on Aug 14, 2013 at 07:31
Barclays’ finance director Chris Lucas is to step down this week due to ill health.
The bank had said in February that 52 year old Lucas (pictured) would retire on 28 February next year, but the timing has been brought forward due to health reasons.
Barclays announced last month that it had hired JP Morgan Chase’s Tushar Morzaria to replace him. Morzaria is set to join in autumn, which will be after the bank’s £5.8 billion rights issue to plug a £13 billion gap in order to meet the Bank of England's new funding requirements.
Lucas said: ‘My health was a key factor behind my decision to step down which we announced in February. Whilst I had hoped to be able to continue working until early next year it is now clear to me that with my health as it is this will no longer be possible.
He added: ‘I want to do the right thing by Barclays, my family, and myself, and therefore I have reached the difficult decision to step down sooner. I feel confident that I leave Barclays financially robust and well placed to continue to serve its customers, clients, shareholders and other stakeholders.’
Group chief executive Antony Jenkins said: ‘It is typical of Chris that last year when he told me that he wished to step down he offered to stay as long as he could while we found and inducted a successor. Chris has helped navigate our company through many challenges during his six years with the business and has played a key part in building the foundations which will ensure Barclays becomes the 'go-to' bank in the years ahead.’
Barclays shares were trading up 0.3% at 284p on Wednesday morning.
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