City sources and news sources such as Sky News is suggesting Sir Gerry Grimstone has been or will be approached for the lead independent role/deputy chairman role at Barclays. Sir Grimstone would fill an upcoming void to be left by the upcoming departure of Sir Mike Rake. Sir Rake is to become chairman of WorldPay, a private equity sponsored payments company.
Grimstone brings a lot to the table for Barclays - he is independent chairman of Standard Life Plc, has had a stint with HMT, and has worked globally in banking roles including chairman of banking at Schroders in the late 1990s. His role at HMT included a number of successful privatisations as well under the leadership of Margaret Thatcher. You can read up on Sir Grimstone here if you want to learn more: http://www.standard.co.uk/business/markets/tell-sid-could-thatcher-s-sell-off-guru-gerry-grimstone-mount-the-black-horse-bank-8668218.html
With the prospect of ring-fencing pressures and other potential changes in the C-suite, a steady hand like Sir Grimstone could be a quality addition to the boardroom at Barclays as Sir Rake moves on.
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