Barclays appoints Standard Life’s Sir Gerry Grimstone as deputy chairman as Sir Mike Rake steps down
Barclays has appointed Standard Life chairman Sir Gerry Grimstone to replace the soon-to-depart Sir Mike Rake as its deputy chairman.
In a statement today, the bank said Grimstone, who is also on the board of Deloitte and the lead non-exec at the Ministry of Defence, will join at the beginning of January.
It's the latest in a raft of personnel changes: last month the bank appointed Jes Staley to replace chief executive Antony Jenkins, who was ousted by new chairman John McFarlane in July.
Weeks later, Rake, who is also chairman of online payments giant Worldpay, announced plans to step down as deputy chairman.
McFarlane said, “I am delighted that Sir Gerry Grimstone has accepted the Board’s invitation to join Barclays and to become Deputy Chairman and Senior Independent Director.
"Sir Gerry commands great respect within the financial services industry and will bring immense experience, integrity and knowledge to the role.
Rake himself added: "The last eight years have been an eventful and difficult period for the banking industry.
"However, Barclays is emerging in a stronger position and I am very confident that it will succeed and prosper under its new leadership. I wish it well for the future.”
Last week Barclays unveiled a 10 per cent fall in adjusted pre-tax profits for the third quarter.