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City veteran Carnwath resigns as non-exec at Barclays

Alison Carnwath has recently faced a series of investor protests at companies where she sits on the boards

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Barclays announced on Wednesday that non executive director Alison Carnwath, who led the bank’s pay committee, had resigned for “personal reasons” with immediate effect.

“With regret I have concluded that I am no longer able to devote sufficient time to my role as a director of Barclays given my other commitments,” Carnwath said in a statement.

The City veteran and one of the most high profile women in London’s financial community had sat on the bank’s board since joining in August 2010.

Carnwath holds a series of board positions at some of the UK’s top companies including embattled hedge fund Man Group and Land Securities, where she is chairman.

Barclays shareholders severely criticised Carnwath for sanctioning the pay deals for the former chief executive Bob Diamond who resigned a few weeks ago amid the rate fixing scandal.

In May she suffered an embarrassing investor backlash at hedge fund Man where some 33 percent of investors failed to support her re-election to the board of the hedge fund at the group’s annual meeting.


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