25 Jul 2012

Alison Carnwath quits Barclays board

Barclays Bank non-executive director and remuneration committee chair Alison Carnwath has stepped down from the role citing “personal reasons”. She spoke to <i>economia</i> in her last interview before resigning

Carnwath spoke to economia for a cover interview in the forthcoming issue, but gave no hint of her plans to leave the beleagured bank. She did say that when it comes to the top echelons of Barclays, "a lot of pressures come to bear" on the remuneration committee. "It’s not easy, and we don’t always get it right," she said.

She also told economia that, like any ordinary person, she worries. "I sometimes wake up worried – or don’t go to sleep at all because I’m anxious," she says. "That’s not so good. Last night I lay awake fretting about something. I then have to stand up and somehow all the worry drains out of my feet, or I write things down."

Carnwath still has a variety of company board roles, domestic and international. In a stock market announcement this afternoon, she said, "With regret I have concluded that I am no longer able to devote sufficient time to my role as a Director of Barclays given my other commitments. I would like to thank my colleagues on the board for their support and I wish Barclays continuing success in the future."

Barclays was fined a record amount by the Financial Services Authorityand US authorities over fixing the LIBOR and EURIBOR inter-bank lending rates. Chief executive Bob Diamond resigned shortly afterwards.



Amy Duff