Ad hoc committee
Wendy Lucas-Bull (Chairman) David Hodnett
Colin Beggs  Jason Quinn
Mohamed Husain Maria Ramos
Paul O’Flaherty Chief Risk Officer
Trevor Munday

The Ad hoc committee was established to advise management in relation to the sell-down and to make recommendations to the relevant Board committees and the Board regarding all aspects of the sell-down and the separation process.

Considered and recommended to the Board and relevant Board committees:

  • the overall quantum of the separation payments from Barclays PLC, the tax and accounting implications thereof, and the timing of the flow of funds;
  • application to the relevant regulators including proposed terms and conditions forming part of that application;
  • requirements relating to the transitional services arrangements with Barclays PLC including outsourcing arrangements;
  • the impact of separation on Barclays Africa’s technology architecture, resilience, and competitiveness;
  • merits of the alternative shareholding structures and any risk arising therefrom;
  • risks arising from the sell-down including potential brand change; and
  • impact on our leadership structures and remuneration arrangements necessary for the retention of skills.