Barclays finance director to quit role

Finance director of Barclays Chris Lucas has announced that he will step down from his role in the bank.

His retirement comes following the bank being hit with interest rate swaps and insurance mis-selling scandals and fines of £290m by US and UK regulators.

Lucas has been on Barclays’ executive board since 2007, after joining from PwC where he was the bank's auditor. 

He is among four staff being investigated by the Financial Services Authority (FSA) over the bank’s payments between them and Quatar holding, part of Quatar's state investment authority.

He is the only Barclay’s executive to stay on since last years’ Libor rate-fixing scandal.

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Comments

Suppose that it is too much to hope that ....

JC | | Permalink

These people will never get employed again in any financial areas

Presumably resignation is rather along the same lines Civil Servants/Police etc. who have been caught out - it puts a stop to all future investigation into their conduct, so they are never really held to account?

Of course the neat thing from their point of view is that retention of pensions etc. is still maintained.

Resignation under these circumstamces should mean that all pension benefits accrued during the period under investigation are withdrawn / void, and there is no cosy retirement with the proceeds of questionnable conduct. They should not be allowed to benefit from their behaviour

http://group.barclays.com/about-barclays/about-us/chris-lucas - started at PwC