Barclays Says Tinney Steps Down as COO of Wealth Management Unit

Barclays Plc (BARC), Britain’s second- largest bank by assets, said Andrew Tinney stepped down as chief operating officer of its wealth-management unit.

“Chief Executive Officer Antony Jenkins acknowledged clearly last week in a letter to all 140,000 colleagues in Barclays that transformation of the bank’s culture is imperative,” the London-based company said in a statement today. “Independent reports like the one commissioned in early 2012 for Barclays Wealth in America are intended to identify areas where change is required and to recommend remedial steps.”

Tinney couldn’t be reached for comment at the bank or through directory assistance.

To contact the reporter on this story: Howard Mustoe in London at hmustoe@bloomberg.net

To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net

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