LONDON (Alliance News) - Barclays PLC on Monday said that Standard Life PLC Chairman Gerry Grimstone will succeed Michael Rake as its senior independent director and deputy chairman in the new year.
Grimstone, who has been chairman of Standard Life since May 2007, will take up the role on January 1, 2016.
He will become the deputy to Chairman John McFarlane at Barclays, which is waiting for ex-JPMorgan Chase & Co investment banker Jes Staley to start work as chief executive following the ousting of retail banker Antony Jenkins in July. Staley is due to start in December.
"I am particularly looking forward to supporting John McFarlane and Jes Staley as they seek to complete the cultural transformation of Barclays and accelerate the delivery of sustainable shareholder returns," Grimstone said.
Rake, who joined Barclays in January 2008, said that Barclays is emerging in a "stronger position" after an "eventful and difficult" eight years for the banking industry in the wake of the financial crisis. Rake is the chairman of Worldpay Group Ltd, the payments company which listed in London in October.
Shares in Barclays were up 2.0% at 236.96 pence on Monday late morning.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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