Rich Ricci, Barclays investment bank boss, resigns

Rich Ricci Rich Ricci is a well-known figure in the City

Related Stories

The head of Barclays' investment banking business, Rich Ricci, has resigned, the bank has announced.

The move follows the arrival of Barclays's new chief executive, Antony Jenkins.

The boss of the bank's wealth management business, Tom Kalaris, has also quit.

Both men played key roles under Bob Diamond, the former Barclays chief executive who left after last year's Libor rate-rigging scandal.

Mr Ricci gets a year's salary after departing, unless he lands another new job in the meantime.

Barclays declined to reveal his basic salary and pension package.

Mr Ricci, who has been with Barclays for 19 years, has often attracted controversy over his pay.

Despite waiving his bonus last year, he landed £18m from selling 5.7 million shares he gained as part of annual bonuses and incentives schemes in previous years.

He will be replaced by Eric Bommensath and Tom King, who will share the job as co-heads.

Barclays' Mr Jenkins said: "Today's changes will ensure we have the right senior team in place to deliver strategy and commitments we made on 12 February and build the 'go-to' bank."

More on This Story

Related Stories

More Business stories

RSS

Features & Analysis

Elsewhere on the BBC

  • CastleRoyal real estate

    No longer reserved for kings and queens, some find living in a castle simply divine

Programmes

  • Leader of Hamas Khaled MeshaalHARDtalk Watch

    BBC exclusive: Hamas leader on the eagerness to end bloodshed in Gaza

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.