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Barclays To Conduct £6Bn Cash Call Without A Finance Director

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Mhttp://www.theguardian.com/business/2013/aug/14/barclays-cash-call-finance-director

Barclays will be conducting its £6bn cash call without a finance director after confirming Chris Lucas is to leave on Friday due to ill health.

Lucas had originally intended to stay until February but will now go at the end of the week. Barclays insurance policies will pay the 52-year-old £600,000 a year until retirement age at 65.

His intention to resign had been announced in February when it was said his health had been a factor in his decision but was not affecting his ability to do his job. But on Wednesday Lucas said: "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 that 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 that I leave Barclays financially robust and well placed to continue to serve its customers, clients, shareholders and other stakeholders."

I bet it was a hard decision, I'd have to think long and hard about not working for a paltry £600k a year.

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