Barclays Finance Director to step down

Barclays has announced that its long-running Finance Director, Chris Lucas, has stepped down ahead of the group's conclusion of its strategic review in the coming weeks.

Barclays has announced that its long-running Finance Director, Chris Lucas, has stepped down ahead of the group's conclusion of its strategic review in the coming weeks.

Mark Harding, the Group General Counsel who has been with the bank for 10 years, has also decided to call it quits, the company said in a statement on Monday morning.

The news comes following a number of scandals at the British lender, including alleged involvement in LIBOR rigging and insurance mis-selling.

"Chris and Mark both expressed to me late last year that they were considering stepping down from their roles at Barclays," said Chief Executive Officer Antony Jenkins.

"The rationale which each shared with me was consistent and, typically, grounded in wanting to do what is best for the bank. Their decision to retire was theirs alone."

He said that the bank is at an "inflection point" in its journey towards becoming the "Go-To" bank.

"We will shortly unveil the outcome of our strategic review, to which they have both made a major contribution. The execution of our change programme will take place over the next 5-10 years, and both Chris and Mark feel that now is the right time for them, personally and professionally, to pass the baton on in their respective roles to executives who can commit to seeing that programme to completion."

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