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