One of Barclays ’top executives is stepping down more than a decade later, the latest in a series of departures that have changed the British bank.
Sky News understands that Ashok Vaswani, Barclays ’chief digital officer, is retiring just months after taking on the role.
Mr Waswani has for most of the last 12 years been one of the most prominent figures in British banking, part of this time managing the group’s operations in the UK.
His resignation was announced in a note sent to Barclays employees a few days ago by CS Venkatokrishnan, the new CEO of Barclays.
A note seen by Sky News told staff that Mr. Vaswani plans to explore “entrepreneurial opportunity” elsewhere.
Mr Waswani’s career at Barclays covered the most turbulent period in the recent history of a centuries-old lender, including the dismissal of three top executives: Bob Diamond over the Libor betting rigging scandal; Anthony Jenkins, over the pace of his turn plan; and late last year Jess Staley, who resigned to challenge the opinions of regulators on how he characterized his relationship with Jeffrey Epstein, the disgraced late financier.
Despite the appreciation, Mr. Vaswani did not receive the position of CEO of the group during any of these appointment processes, although it is understood he was a contender to run the Lloyds Banking Group prior to Charlie Nana’s appointment last year.
Barclays Digital Banking, one of the best major banks, was fined under the leadership of Mr. Vaswani.
“Ashok has long been a highly respected colleague on the group’s executive committee and has been very helpful to me personally in shaping my thinking about the digital future of financial services,” Mr. Venkatokrishnan told colleagues.
Barclays confirmed the contents of the note, but declined to comment further.