By Ian Walker
LONDON--Barclays PLC (BARC.LN) confirmed Thursday that Deputy
Chairman and Senior Independent Director Michael Rake will continue
to serve on the bank's boards until a new group chief executive is
in post, following Mr. Rake's appointment on Wednesday as chairman
of payments company Worldpay.
The U.K. bank added that any conflict of interest that may arise
in respect of Mr. Rake's chairmanship of Worldpay will "be managed
in the normal manner."
Barclays was responding to reports in the media, including The
Wall Street Journal, on Wednesday that said Mr. Rake had resigned
after seven years with the bank. He joined Barclays as a
non-executive director in January 2008 and was appointed senior
independent director in October 2011 and deputy chairman in July
2012.
Worldpay said Wednesday that Mr. Rake will become its
nonexecutive chairman in September, subject to regulatory approval.
A Barclays spokesman said that Mr. Rake will remain on the bank's
boards until at least the end of 2015.
At Worldpay Mr. Rake is expected to help lead its likely initial
public offering later this year. Mr. Rake is also chairman of
telecommunications giant BT Group PLC.
Last week, Mr. Rake and other nonexecutive directors
orchestrated the ousting of Antony Jenkins as Barclays' chief
executive following a string of disappointing results, according to
bank officials at the time. Barclays said newly arrived Chairman
John McFarlane would serve as executive chairman until a permanent
successor to Mr. Jenkins is found.
Ironically, Mr. Rake helped tap Mr. Jenkins to become CEO three
years ago.
Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
Subscribe to WSJ: http://online.wsj.com?mod=djnwires