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Sir Gerry Grimstone to step down from Barclays roles

Sir Gerry is currently a non-executive director at Barclays and the chairman of its Barclays Bank subsidiary, but he will leave those roles at the end of February

sir gerry grimstone
Sir Gerry has been a regular on the boards of many London-listed companies over the past 20 years

City veteran Sir Gerry Grimstone is to step down as a director of Barclays PLC (LON:BARC) and as the chairman of its Barclays Bank subsidiary at the end of the month.

His departure comes just weeks after he left his role as the chairman of investment giant Standard Life Aberdeen PLC (LON:SLA).

READ: Barclays to boost divi payments as end of crisis-era misconduct charges draws near

The 69-year-old, who had previously been the FTSE 100 firm’s’ deputy chairman, said he was leaving with Barclays in “very good shape”, but that it is an “appropriate moment for a change”.

“Going forward, I will be concentrating on my public sector activities in the UK, my work with Deloitte in Europe and globally, my work in the Gulf, India, China and elsewhere in Asia-Pacific,” Grimstone added.

“There will doubtless be many other exciting public and private opportunities to pursue.”

Barclays chief executive Jes Staley said it had been a “privilege” to work with Grimstone.

“I am deeply grateful to him for the support and counsel he has provided me personally, as well as for his immense contribution to the turnaround of our Corporate & Investment Bank in particular.”

Nigel Higgins, the incoming chairman-elect of Barclays, will also assume the chair of Barclays Banks when he joins at the beginning of March.

Barclays shares were down 2% to 157.7p on Friday morning.

Quick facts: Barclays PLC

Price: 107.62 GBX

Market: LSE
Market Cap: £18.67 billion

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