CEO of Barclays' U.S. consumer bank departs after less than a year

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Shane Holdaway, the chief executive of Barclays U.S. consumer bank, has resigned from his role at the British lender, according to sources. We’re told he’s leaving to take on an unspecified role with a startup. Barry Rodrigues, CEO of cards and payments at Barclays, is said to be taking on Holdaway’s responsibilities on a temporary basis. A Barclays spokesperson confirmed Holdaway’s departure and Rodrigues’ new responsibilities and said they are already in the process of identifying a permanent replacement.

A longtime Capital One veteran, Holdaway was on the job for less than a year before moving on. He spent the previous five years as the president of Capital One Canada before joining Barclays in June of 2018. Late last year, Barclays announced it was it was launching online retail accounts for U.S. consumers in a move that pits the digital bank against Marcus, Goldman Sachs’ online bank.

There has been much movement at the top ranks at Barclays in recent months. Investment banking chief Tim Throsby left in March after reportedly butting heads with CEO Jes Staley. A number of other moves were part of the management shakeup, including shifting Ashok Vaswani, CEO of Barclays UK, to the newly created role of global head of consumer banking and payments. A source said Vaswani’s arrival has led to some significant staff turnover, though a second source disputed the notion of dramatic changes.

The news of Holdaway’s resignation comes just two days after we reported that Barclays is cutting an unknown number of senior staff within its markets division, touching mostly credit desks and including some big names in New York. The bank said just last month that it “had no plans for job cuts” at the time.

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