January 6, 2015 / 10:19 PM / 3 years ago

Barclays 'bad bank' chief to retire later this year: Sky News

(Reuters) - British bank Barclays Plc’s (BARC.L) non-core business head Eric Bommensath will retire and leave later this year after 17 years at the institution, according to a report by Sky News.

    Eric Bommensath, formerly the co-head of Barclay’s investment bank, was put in charge of “bad bank” when it was set up in May 2014 to house assets the bank does not want - including its retail banking operations in Italy, France, Spain and Portugal

    Bommensath's exit is expected to be announced on Wednesday, the report said. Two other executives within the bank's non-core unit, John Mahon and Harry Harrison, will be appointed as his replacement, it said. (bit.ly/1tMR2Zj)

    Barclays could not be immediately reached for comment outside regular UK business hours.

    Reporting By Aurindom Mukherjee in Bengaluru; Editing by Alan Crosby

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