BT chairman Sir Mike Rake has pulled out of the race to be the next chairman of Barclays, according to reports.
The Times said he ruled himself out of contention because key institutional investors had concerns about his suitability for the job.
He had been considered front runner for the position.
The report said external candidates, such as Lord O’Donnell of Clapham, the former Cabinet Secretary, and Glen Moreno, the former deputy chairman of Lloyds Banking Group who is now at Pearson. Sir Roger Carr, of Centrica, and Sir John Rose, a former head of Rolls-Royce, were now among those being considered for the job.
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