Barclays announced that it has named Anna Cross as Group Finance Director to Replace Tushar Morzaria, effective from 22 April 2022.
In a press release recently shared with Finance Magnates, Anna Cross, the current Deputy Group Finance Director, has been elected by Barclays, one of the world’s leading banks, to fill the position of Group Finance Director. She will replace Tushar Morzaria who has chosen to retire from both his positions as Group Finance Director and as Executive Director of Barclays PLC and Barclays Bank PLC, effective from 22 April 2022.
Cross will take the role of of Group Finance Director subject to regulatory approval. Also, she will join both Boards of Barclays PLC and Barclays Bank PLC as an Executive Director. Further, she will become a member of the Group Executive Committee, reporting to Group Chief Executive C.S.Venkatakrishnan (known as Venkat).
Morzaria’s Exit
It is intended that Morzaria provide continued support to Venkat and enable a smooth transition for Cross. He will act as an adviser to the Group Chief Executive and support the Group's business with financial institutions as Chairman of Global Financial Institutions Group in the Investment Bank.
In response to Morzaria’s decision, Nigel Higgins, the Group Chairman, said: “Tushar has been an invaluable member of the senior management team at Barclays since 2013, when he joined as Group Finance Director. He has played an immense role in the rebuilding of the Group's financial and operational resilience. The Board is grateful for his hard work and is delighted that he will have a continuing role with Barclays."
“Tushar has been an outstanding Group Finance Director and colleague. I'm pleased that my colleagues and I will be able to tap into his extensive institutional insight and experience going forward through his role as Chairman of Global Financial Institutions Group, and that our clients will be able to benefit further from his deep knowledge of our industry," Venkat added.
A Quick Glance at Cross’ Career
Barclays onboarded Cross back in 2013, and in July 2020, she was appointed Deputy Group Finance Director. Among the roles that she accomplished, she was Group Financial Controller and Chief Financial Officer, Barclays Bank UK PLC.
Additionally, she has held other senior executive financial positions with Lloyds Banking Group, Halifax Bank of Scotland, and ASDA.
A Strong Internal Successor
"The Board is delighted to have, in Anna Cross, such a strong internal successor. Anna was identified over a year ago as the Board's preferred successor, following a review of potential internal and external candidates,” Higgins added.
Venkat stated: "I strongly endorse Anna's appointment as Group Finance Director. I am delighted that the Board has asked her to succeed Tushar and look forward to working closely with Anna as we continue to deliver our strategy.”
