Newspaper article The Evening Standard (London, England)

Barclays Boss Quits - and Three Take over the Job; CITY BRIEFING

Newspaper article The Evening Standard (London, England)

Barclays Boss Quits - and Three Take over the Job; CITY BRIEFING

Article excerpt


THE boss of Barclays' UK banking business is quitting, and will be replaced by three people. Roger Davis, 49, stands down from the board tomorrow and is looking for a major new challenge.

"I've always had a desire to run a big company," Davis said. "I've been running the equivalent of a very large company at Barclays but now I would like to run a standalone business."

He is keen to head a FTSE 100 company but would not comment on catering group Compass or British Gas energy supplier Centrica, which are looking for new chief executives. Davis, who was an army officer for a decade before joining Robert Fleming as a defence analyst in 1986, has been at Barclays for eight years. He said: "I always tell people I'm not really a banker, I'm a leader of businesses."

Under his contract, Davis is due [pounds sterling]1 million if he doesn't find a job next year. The odds are he will. He earned [pounds sterling]1.32 million last year, and will leave the bank in April but be available as a consultant until next October.

Davis became head of Barclays' entire UK business two years ago when Matt Barrett controversially stepped up from chief executive to chairman. He has overseen a turnaround of its UK branch business. Barclays has poached Antony Jenkins, 44, from Citigroup as chief executive of Barclaycard.

Jenkins who began his career as a Barclays management trainee, was in charge of Citigroup's credit cards, including its Platinum and Universal brands.

American Deanna Oppenheimer, 47, has been recruited from Washington Mutual's retail banking operations to become chief executive of UK Retail Banking. She will be the second highflying America woman to run the retail operations of a UK bank after Lloyds TSB recruited Terri Dial from Wells Fargo earlier this year.

Peter Harvey, 50, becomes chief executive of UK Business Banking.

Meanwhile, Barclays director Gary Hoffman, 45, becomes chairman of UK Banking and Barclaycard. …

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