Barclays's King Said to Plan to Retire as Early as Next Month
- Board said to lean toward making an external appointment
- Barclays is shrinking investment bank to boost profit growth
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Barclays Plc’s investment bank chief, Tom King, plans to retire as soon as next month, said people with knowledge of the plans.
The board is leaning toward appointing an external candidate to replace King, 55, with regulators set to introduce tougher rules next month holding senior executives accountable for misconduct, according to the people, who asked not to be identified because the information is private. A spokesman at Barclays declined to comment. King didn’t respond to a call seeking comment.