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Barclays deputy chairman says no plan to resign

The letter ‘B’ of the signage on the Barclays headquarters in Canary Wharf is hoisted up the side of the building in London July 20, 2012.


Michael Rake, deputy chairman of British bank Barclays PLC, said he had no plans to resign, after the Financial Times reported he would depart as soon as was feasible and probably within six months.

"Contrary to this morning's media report and, as I have made clear, I have no present intention to stand down from the Barclays board," Mr. Rake said on Friday.

Mr. Rake, chairman of telecoms company BT Group and airline easyJet, ruled himself out of the running for the chairmanship of Barclays in July, a role he had been favourite to assume.

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New chairman David Walker has made clear he wants to add non-executive directors to bolster Barclays' board and will work closely with new Chief Executive Antony Jenkins to improve the culture across the bank.

Barclays lost a number of senior executives, including chief executive Bob Diamond, in the fallout from the Libor rate-rigging scandal which engulfed the bank and led to a £290-million ($468-million U.S.) settlement with regulators.

Mr. Walker, who takes up his role in November, has begun to reshape the board, picking former insurance boss Tim Breedon as a new non-executive director.

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