Barclays finance director steps down early due to ill health

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Barclays group finance director Chris Lucas is stepping down earlier than planned due to health reasons.

The bank announced in February Lucas would be stepping down after acting as group finance director for six years, but was expected to stay in his role until 28 February next year.
 
Lucas and three other current and former Barclays employees are being investigated by the Financial Conduct Authority over the disclosure of fees paid and whether these fees were linked to Barclays’ capital raisings in June and November 2008.
 
Barclays said at the time Lucas’ departure was unconnected to the investigations.

The bank announced last month Tushar Morzaria would take over from Lucas as group finance director. Morzaria will now take up the role in October, and join the board at that point.
 
Group financial controller Peter Estlin will be acting chief financial officer until October.
 
Barclays group finance director Chris Lucas says: “My health was a key factor behind my decision to step down which we announced in February. Whilst I had hoped to be able to continue working until early next year it is now clear to me with my health as it is this will no longer be possible. I want to do the right thing by Barclays, my family, and myself, and therefore I have reached the difficult decision to step down sooner.
 
“I feel confident I leave Barclays financially robust and well placed to continue to serve its customers, clients, shareholders and other stakeholders.”
 
Barclays group chief executive Antony Jenkins says: “It is typical of Chris that last year when he told me he wished to step down he offered to stay as long as he could while we found and inducted a successor.
 
“I am very grateful for his support, advice and wisdom during my first year as chief executive.”