#BANKING:Knocking them down like 9-pins as Barclays deputy chairman Sir Mike Rake quits

#AceFinanceNews – Britain:July.15: Sir Mike Rake, the deputy chairman of Barclays since 2012, is quitting the bank, the BBC understands.

The news comes just a week after Antony Jenkins, Barclays’ chief executive, was fired after falling out with the board.

Sir Mike – who has been on the board since 2008 – is a “highly respected figure in the business world”, said BBC business editor Kamal Ahmed.

His decision to leave “may well raise questions in investors’ minds” at a time of transition, our reporter added.

He is taking up a job as the new chairman of payments processing firm Worldpay, our business editor says, the firm formerly owned by Royal Bank of Scotland.

Sir Mike was not believed to have been a huge supporter of Mr Jenkins, he adds.

Sir Mike was a firm ally of Bob Diamond, the previous chief executive of Barclays, who came from the investment bank side of the business.

Sir Mike is also chairman of BT Group and served as the chairman of the CBI, the British business organisation, from June 2013 until this year.

Barclays deputy chairman Sir Mike Rake quits_84280513_84280512.jpgSir Mike Rake, the deputy chairman of Barclays since 2012, is quitting the bank a week after its chief executive was fired.

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