LONDON, April 29 (Reuters) - British bank Barclays Plc said Skip McGee has quit as head of its U.S. businessbecause he does not want to oversee the task of establishing anew company required under tougher U.S. rules.
Barclays has to establish an intermediate holding company byJuly 2016, which imposes more stringent rules on the U.S. armsof foreign banks. The bank said given the amount of time andfocus on regulations, compliance and legal and operationalissues for the next two years McGee had decided to step down.
Joe Gold, currently head of client capital management, willbecome CEO of the Americas from May 1. Barclays said the rolehas been restructured and Gold will report to the co-CEOs of thecorporate and investment bank, Tom King and Eric Bommensath. (Reporting by Steve Slater; Editing by Matt Scuffham)