Thursday, May 1, 2008
Trouble up at mill….
Paul Idzik, Barclays' chief operating officer and one of chief executive John Varley's most senior lieutenants, is quitting following frustration over the way the bank is run. Barclays will inform employees about the departure of Mr Idzik tomorrow. Mr Idzik, an American, came to London in November 2004 to become Barclays' chief operating officer. He had previously held the same role at the bank's investment banking arm, Barclays Capital, in New York. Mr Idzik, 47, soon became famous for his management style. He snapped a subordinate's pen because it had a Royal Bank of Scotland logo on it.