One of Barclays’ most senior executives is set to step down in a sign of the simmering tensions at the top of the UK’s third-biggest bank.
Paul Idzik, chief operating officer and one of the key lieutenants in efforts by John Varley, chief executive, to overhaul the bank’s culture and management, has decided to leave. His departure comes at a sensitive time for Barclays, which is facing scrutiny from investors over losses from the credit market turmoil and questions about its financial strength. Idzik’s resignation will further fuel concerns about the charged relationship between Varley and Bob Diamond, Barclays’ president and head of its powerful investment banking and fund management divisions.

This entry was posted by Gwen Robinson on Friday, May 2nd, 2008 at 5:46 and is filed under Capital markets, People. Tagged with barclays. Edit this entry.