Finsbury is working the ouster of Barclays PLC chief Anthony Jenkins after his disappointing three-year reign at the British banking giant.
John McFarlane will slide into the executive chairman post on July 17 when he retires from FirstGroup. A search for Jenkins' replacement is under way.
The WSJ reported Barclays' board become impatient with the slow progress of the bank's restructuring program and that key executives were planning to leave if Jenkins remained at the helm.
Under his contract, Jenkins is entitled to 12 months' notice from Barclays. He will continue to receive his $1.7M salary and $1.5M "role based pay" during the next year.
Finsbury's Conor McClafferty is handling the firing news.
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