LONDON, April 29 British bank Barclays Plc
said Skip McGee has quit as head of its U.S. business
because he does not want to oversee the task of establishing a
new company required under tougher U.S. rules.
Barclays has to establish an intermediate holding company by
July 2016, which imposes more stringent rules on the U.S. arms
of foreign banks. The bank said given the amount of time and
focus on regulations, compliance and legal and operational
issues for the next two years McGee had decided to step down.
Joe Gold, currently head of client capital management, will
become CEO of the Americas from May 1. Barclays said the role
has been restructured and Gold will report to the co-CEOs of the
corporate and investment bank, Tom King and Eric Bommensath.
(Reporting by Steve Slater; Editing by Matt Scuffham)