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Rating:Barclays CEO Resigns Not Rated 2.3 Email Routing List Email & Route  Print Print
Friday, June 21, 2002

Barclays CEO Resigns

by: Sean Hanna, Editor in Chief

Barclays Global Investors is getting a new chief. Patricia Dunn, the outgoing CEO, said that she is stepping down to undergo treatment for breast cancer and melanoma. She will be replaced by Andrew Skirton and Blake Grossman who each take the title of co-CEO.

Dunn will continue at the firm in a non-executive capacity as Vice Chairman of BGI, said the company in a release.

"Deciding to step down as CEO has been a tough decision," said Dunn in a statement. "My entire career has been with BGI, and I could not be prouder of its accomplishments and people. I feel confident that refocusing my priorities on health is the right move because the business is in a great position, performing strongly, and has exceptional depth. I know Blake, Andrew and the entire team will carry on with great success."

The moves at the top come as rumors that BGI's parent, London-based Barclay's Bank, is seeking a buyer for the asset manager. BGI is one of the largest asset managers in the world and specializes in the institutional market. It has also successfully led the creation of the market for exchange-traded funds.

Grossman was most recently been chief investment officer of BGI's Global Advanced Active business. There he was responsible for the growth and strong performance of its active strategies. He is a board member of Barclays Global Investors UK Holdings Limited.

Skirton, most recently was Co-CEO of the firm's Global Index & Markets Group, with global responsibility for index fund management, securities lending, transition services, and cash management.  

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