Friday May 2, 06:28 AM
Barclays chief operating officer to resign amid rift claims - report
LONDON (Thomson Financial) - Paul Idzik, chief operating officer of Barclays Plc., is to step down in a sign of a rift at the top of the UK's third largest bank, the Financial Times reported without citing sources.
Idzik has told
colleagues that he is leaving because the changes he helped make to the bank's senior management and corporate structure are largely complete, the newspaper said.
Idzik refused to comment, the FT said, but it suggested that he had become frustrated at the tension between chief executive John Varley and Bob Diamond, the bank's president and head of its investment banking and fund management divisions.
Barclays (LSE: BARC.L - news) is expected to confirm Idzik's departure today, although he is not expected to leave until later in the year, the FT said.
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