LONDON - Barclays said Sunday that its chief financial officer and its general counsel would resign, the latest departures following the British bank’s involvement in a series of scandals, including an investigation into the rigging of global interest rates.
The announcement came less than two weeks before Barclays is set to announce a far-reaching overhaul of its business. The finance chief, Chris Lucas, and the group general counsel, Mark Harding, will remain in their jobs until the bank appoints their successors, Barclays said in a statement.
Mr. Lucas is also one of four current and former Barclays executives who have been ensnared by an investigation by regulators into details of how the bank raised funds from a Qatari fund during the financial crisis.
Antony P. Jenkins, Barclays’ new chief executive, said Mr. Lucas and Mr. Harding old him late last year that they were considering to resign.
“The rationale which each shared with me was consistent and, typically, grounded in wanting to do what is best for the bank,†Mr. Jenkins said. “Their decision to retire was theirs alone.â€
Mr. Lucas said it was an “appropriate time, as we start the implementation of the transform program, to begin my retirement from my role on the board and executive committee, and to pass the mantle on to a successor.â€
Mr. Jenkins, who took over the top job from Robert E. Diamond Jr. last year, is seeking to repair Barclays’ reputation and regain trust among investors by improving profitability and reducing risks. Mr. Diamond resigned amid an investigation into the bank’s role in the manipulation of the London interbank offered rate, or Libor, which Barclays settled for $450 million in June. Marcus Agius resigned as chairman, and the chief operating officer, Jerry del Missier, also left the bank.
Mr. Jenkins said on Friday he would give up his bonus for 2012 that could have totaled as much as $4.3 million amid some pressure from law makers. The bank also recently faced a billion dollar bill to compensate clients it inappropriately sold payment insurance to and might have to pay yet more to some customers that bought a certain interest rate-hedging product.
Mr. Jenkins plans to turn Barclays into the “go-to†bank for customers and said the planned changes are expected to take between five and ten years.
Mr. Lucas became Barclays’ finance chief in 2007. He previously worked for the accounting firm PricewaterhouseCoopers, here he was head of financial services in Britain.
Mr. Harding joined Barclays in 2003 from law firm Clifford Chance. He is also chairman of Barclays’ reputation council.
