Barclays chief stepping down due to ill health


Barclays Finance Director Chris Lucas is stepping down six months ahead of his scheduled retirement, citing health reasons, the bank said on Wednesday.

Reuters News reports that Lucas, aged 52, who has been finance director for a tough six years that spanned the global financial crisis, announced his retirement 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,' Lucas said in a statement.

The bank announced in July that JP Morgan executive Tushar Morzaria would take over as finance director in February next year. He will now take up his appointment on October 15. Peter Estlin, Barclays' group financial controller, will serve as acting finance director until Morzaria's arrival.

Barclays shares closed at 284 pence on Tuesday.

'I am very grateful for his support, advice and wisdom during my first year as Chief Executive. Chris has helped navigate our company through many challenges during his six years with the business,' Chief Executive Antony Jenkins said.

Hit the link below to access the complete Reuters article:

Barclays finance chief Lucas to step down due to ill health

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image: © Dick Johnson

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