Barclays Hands U.S. Reins to McGee After Vowing Change
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Hugh E. McGee III, a former Lehman Brothers Holdings Inc. oil banker, fired his gun into upstate New York’s sky last year. Clients and colleagues, who know him as Skip, watched the one duck tagged with a ribbon fall.
The Texan, who became chief executive officer of Barclays Plc’s Americas business in May, has a trickier target now. He’s responsible for improving relations with U.S. regulators after the London-based bank agreed to pay $450 million in fines for rigging benchmark interest rates and pledged to embrace humility, cut pay and return to its 17th century Quaker roots.