Barclays MD race heats up

Barclays, the country’s second biggest bank by balance sheet, is entering a precarious period in which the new MD will have to manage the organisation’s transformation into the Absa Group, from Barclays PLC.

Industry insiders told BusinessWeek that while Barclays’ chief operating officer (COO), Keabetswe Pheko-Moshagane remained the front-runner for the position; Bashi Gaetsaloe’s recent departure from the Botswana Development Corporation (BDC) had fuelled speculation that his name could be added to the hat.