Jeb Bush said to end Barclays advisory role at end of year
Former Florida Governor Jeb Bush will give up his senior adviser role at Barclays Plc at the end of the year after announcing he may run for the Republican presidential nomination in 2016, according to a person with knowledge of the matter.
The decision, reached mutually, will allow him to focus on politics, said the person, who asked not to be identified because he wasn't authorized to speak publicly.
Barclays Chief Executive Officer Antony Jenkins, 53, has cut thousands of jobs as he shrinks the London-based lender's investment bank to boost profits. The CEO's pledge to overhaul the bank's culture after the company was fined for interest-rate manipulation has been set back by probes into equity and currency trading. The shares have declined 14 percent this year.
Bush, 61, is the brother of former President George W. Bush and the son of former President George H.W. Bush. In 2007, Lehman Brothers Holdings Inc. named Jeb Bush as a member of its private-equity advisory board.
The Financial Times reported yesterday that Bush would be leaving Barclays at the end of the year.
(An earlier version of this story corrected description of Bush in the first paragraph.)
To contact the reporter on this story: Stephen Morris in London at smorris39bloomberg.net To contact the editors responsible for this story: Edward Evans at eevans3bloomberg.net Christine Harper, Simone Meier