Bloomberg News

Barclays Chairman Marcus Agius Likely to Step Down, Sky Reports

July 01, 2012

Barclays Plc (BARC) Chairman Marcus Agius is likely to step down as soon as tomorrow following the British lender’s involvement in the manipulation of the Libor lending rate, Sky News reported today, citing unidentified individuals.

Agius probably would be replaced by Michael Rake, Sky said.

The decision on Agius’s future will be taken at a Barclays board meeting, Sky said.

Were Agius to step down, it’s unlikely Chief Executive Officer Bob Diamond would depart, Sky said, in part because regulators wouldn’t allow a bank as systemically important as Barclays to lose both its chairman and chief executive simultaneously.

To contact the reporter on this story: Dick Schumacher in London at dschumacher@bloomberg.net

To contact the editor responsible for this story: Dick Schumacher at dschumacher@bloomberg.net


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