Rake Withdraws as Barclays Chairman Contender, Sunday Times Says

Sir Michael Rake, a contender to replace Marcus Agius as chairman of Barclays Plc (BARC), has withdrawn from contention for the role, the Sunday Times reported, without saying how it obtained the information.

Rake, deputy chairman of the London-based bank chairman of BT Group Plc (BT/A), was preferred by some of Barclays’ biggest shareholders, the newspaper said. Other investors wanted someone from outside the bank to be appointed, the Times said.

Barclays spokesman Giles Croot declined to comment when contacted by mobile phone.

To contact the reporter on this story: John Glover in London at johnglover@bloomberg.net

To contact the editor responsible for this story: Paul Armstrong at parmstrong10@bloomberg.net

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