Another City role for Standard Life chief
Grimstone replaces Rake as deputy chairman at Barclays Bank
Sir Gerry Grimstone, chairman of Standard Life, is joining the board of Barclays Bank as a non-executive director and deputy chairman.
His appointment confirms speculation that began in mid-October and follows a revamp of the Barclays board triggered by the departure of chief executive Antony Jenkins.
Sir Gerry, who has been at the helm of Standard Life since 2003, is also on the board of Deloitte and the lead non-executive director at the Ministry of Defence. He will join Barclays at the beginning of January, replacing Sir Mike Rake.
Barclays chairman John McFarlane said: “Sir Gerry commands great respect within the financial services industry and will bring immense experience, integrity and knowledge to the role.”
Sir Gerry is also chairman of financial services lobby group TheCityUK and recently launched its campaign to underline the importance of the UK’s continued membership of a revamped EU.