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Mike Rake holds Barclays post – for now

FORMER KPMG chairman Sir Mike Rake will continue in his deputy chairman role at Barclays – until a new chief executive is appointed.

In response to claims in the business press yesterday that Sir Mike was set to leave as he took on a major role at payment processing business Worldpay, it seems his departure is not imminent.

It is unclear how long the recruitment process will take to replace chief Antony Jenkins, who left the business last week amid claims Sir Mike was involved in his ousting. New chairman John McFarlane will run the bank until a new chief is appointed.

Sir Mike is not a stranger to boardroom wrangles. As easyJet chairman he faced a battle to remain in place after its founder Sir Stelios Haji-Ioannou attempted to remove him from his post.

A serial non-executive following his 33-year career at KPMG, Sir Mike will not be easing back as chairman of Worldpay. Reports suggest that his appointment signals its move towards an IPO process.

Experienced finance chief Rick Medlock was appointed Worldpay’s CFO in April. He spent nine years at Inmarsat, where he oversaw its IPO.

At KPMG, Sir Mike held the firm’s most senior roles – including international chairman and earlier chairman and senior partner of the UK outfit. 

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