Barclays finance director Lucas, top counsel to retire

Sun Feb 3, 2013 2:14pm EST
 
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By Steve Slater and Paul Sandle

LONDON (Reuters) - Barclays said its finance director Chris Lucas and its top legal expert are to retire, adding to change at the top of the British bank as it struggles to put a series of scandals behind it.

Lucas, aged 52, has been finance director for a tough six years that spanned the global financial crisis, but the past nine months have been particularly difficult.

He is one of four current and former employees being investigated by UK authorities regarding a capital injection by Qatar in 2008.

Group General Counsel Mark Harding will also retire, the bank said in a statement on Sunday.

Both will remain in their roles until their successors have been found and an appropriate handover completed.

The bank said headhunters had been appointed, but it expected the process to take "a considerable time" to complete.

It could take up to a year to fill Lucas's position, people familiar with the matter told Reuters earlier on Sunday. Sky News first reported Lucas would leave.

Sources said Lucas's departure was not linked to the investigations into Qatar. He is also the only one of Barclays' executive directors still in his post after the bank was fined $450 million in June for rigging the Libor global benchmark interest rate.   Continued...

 
A logo of Barclays bank is seen outside a branch in Altrincham, northern England April 26, 2012. REUTERS/Phil Noble