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Barclays’ dy chairman too quits

Michael Rake, deputy chairman of Barclays is said to be quitting the bank. This comes immediately after the bank’s chief executive Antony Jenkins was ousted. Rake is said to be responsible for Jenkins’ ouster. Rake will become chairman of Worldpay, the payments system company thought to be planning a stock market flotation, on 1 September. He has been on the board of Barclays since 2008, throughout the financial crisis and Libor scandal, and the resulting changes at the top of the bank. He is expected to leave the Barclays board at the end of the year after spending 30 years at accountants KPMG before embarking on a boardroom career. He also chairs telecoms company BT, which held its annual meeting of shareholders on Wednesday as news of his appointment to Worldpay was revealed.

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