Should Mike Rake take over from Mr Agius at Barclays...

So is Sir Michael Rake (ex chairman of KPMG International), the right person to fill Marcus Agius shoes in the light of the following:

He held the following positions at Barclays from 2008

  • Independent Non-Executive Director, Chairman of Audit Committee, Member of Corporate Governance & Nominations Committee, Member of Risk Committee and Non- Executive Director of Barclays Bank Plc
  • Senior Independent Director and Member of Risk Committee
  • Non Executive Director, Member of Audit Committee and Non Executive Director of Barclays PLC

Therefore

  • Did he raise any concerns in his capacity with any of these positions at Barclays
  • What precisely did Mr Rake do about the fraudulent situation at Barclays
  • Has he failed in his duties as a non-executive director
  • Is ignorance (plausable deniability or otherwise) an excuse for failing to see the problems - especially in the light of his training and positions held at the bank
  • Does his historic involvement with this fraud tarnish his capacity to hold any position of authority in the future

Finally, as a member of the profession do you want a person such as Mr Rake to be representative of the accountancy profession in the eyes of the public?

http://www.accountingweb.co.uk/blog-post/bent-bankers-need-jail-not-regulation

Comments
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Hmmmm ... it's par for the course these days, isn't it?

ShirleyM |
ShirleyM's picture

last time i resigned i was

justsotax |

Better solution..

Trevor Scott |

If Rake's @ BT, then will Barclays' culture change 4 the better?

dstickl |