Bank director stands down from board
By Tom WrightA bank's board member is to stand down with immediate effect to avoid a conflict of interest within the banking group.
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A bank’s board member is to stand down with immediate effect to avoid a conflict of interest within the banking group.
Wendy Lucas-Bull, Chair of Barclays Africa Group Ltd, has relinquished her role on the Barclays board after the bank announced its intention to reduce its shareholding in Barclays Africa Group Ltd.
John McFarlane, CEO at Barclays, said: "I am grateful to Wendy for her strong contribution to the deliberations of the Barclays board over the last three years and particularly for her insights into the business of banking on the continent of Africa.
“Wendy has ably led the Barclays Africa Group through some important strategic transactions and we wish Wendy continued success in her stewardship of the Barclays Africa Group."
Yesterday, Barclays PLC announced plans to reduce its 62.3% stake in Barclays Africa over the next two to three years.
In a letter to customers, Maria Ramos, CEO of Barclays Africa Group, said: “Our future as Barclays Africa is very bright and our ambition to be Africa’s leading bank remains unchanged.
“We are deeply committed to the communities in which we live and work and today, when we announced our financial results, I also said we will invest $93m (approximately £66.5m) in education and skills development across Africa over the next three years.”
Keywords: Bridging Finance, Commercial Finance, Bridging Lender, Commercial Lender, Alternative Finance, Barclays, Wendy Lucas-Bull, John McFarlane
Source: Bridging & Commercial — https://bridgingandcommercial.co.uk/bank-director-stands-down-from-board