Barclays has appointed Tushar Morzaria as its new group finance director, succeeding Chris Lucas, who announced his intention to retire in February this year.
Morzaria is expected to begin work at Barclays in the autumn of 2013, at which point he will join the Executive Committee, reporting to group chief executive Antony Jenkins.
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He will join the Board as an executive director with effect from 1 January 2014. This will allow for an orderly handover of responsibilities from Chris Lucas, who will remain accountable for financial reporting for 2013.
Lucas will remain on the Board as group finance director and a member of the Executive Committee until his retirement as Group Finance Director on 28 February 2014, at which point Morzaria will take up his responsibilities in full.
Morzaria is currently CFO of corporate and investment banking at JP Morgan Chase, where he has spent the majority of his career. A qualified chartered accountant, he has previously also held roles in the finance functions of Credit Suisse and SG Warburg.
Commenting on the appointment Antony Jenkins, group chief executive, Barclays said: "I am delighted to welcome Tushar to Barclays. He is an accomplished professional with first class strategic financial management experience built up over 20 years, including the last four as a key leader in JP Morgan Chase’s Corporate and Investment Bank.
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By GlobalData"I want to note our huge gratitude to Chris Lucas for his dedicated service to Barclays, and thank him particularly for his role in ensuring that our business has remained financially strong during the financial crisis and since."
