Barclays finance director to step down

<p>Barclays’ finance director Chris Lucas is stepping down.</p>

Shares in Barclays have lost ground on the London Stock Exchange this morning (February 4th), after the bank announced that its finance director is to step down.

Chris Lucas has opted to retire, but will remain in his role until his successor takes over, while group general counsel Mark Harding will also be leaving the organisation.

This news comes after Barclays was hit by insurance mis-selling scandals and fines of £290 million by regulators both in the UK and US.

Mr Lucas was the only one of the bank's top executives who kept his job following the London Inter-bank Offered Rate manipulation scandal last year.

Chief of Barclays Antony Jenkins stated: "The rationale which each shared with me was consistent and, typically, grounded in wanting to do what is best for the bank. Their decision to retire was theirs alone."

At 09:40 GMT, Barclays shares slipped by 0.3 per cent to 299.00 per unit.

Learn all about CFD trading strategies and the FTSE 100 at City Index.

Join our live webinars for the latest analysis and trading ideas. Register now

GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.