LONDON (Alliance News) - Barclays PLC Tuesday said the chief executive of its Barclaycard payments business is stepping down to pursue a "new professional challenge" elsewhere after six years with the business.
Barclays did not specify Valerie Sorranno Keating's destination.
Sorranno Keating joined Barclaycard in 2009 after 16 years with American Express.
Amer Sajed, the chief executive of Barclaycard US, will take over Sorranno Keating's role while the bank looks for a permanent successor.
Barclays said its search for Sorranno Keating's replacement will consider internal and external candidates.
"After more than five great years leading Barclaycard to more than double its size, I feel the time is right to find a new professional challenge. It is a real testament to the commitment of my colleagues that we have made Barclaycard into the global payments leader it is today," Sorranno Keating said in a statement.
Barclays shares were down 1.1% at 257.95 pence on Tuesday morning.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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Barclays (BARC)