Barclays dealmaker McGee quits as U.S. head

Hugh 'Skip' McGee, one of the British bank Barclays' (BARC.L) highest earners, has quit as head of its Americas business, the bank saying he did not want to oversee the task of establishing a new holding company required under tougher U.S. rules. The departure of the former Lehman Brothers dealmaker coincides with pressure on Barclays Chief Executive Antony Jenkins to cut staff pay after shareholders last week rebelled against a decision to increase bonuses. Jenkins said the bonus rise was needed to prevent an exodus of U.S. investment bankers, and McGee's exit is likely to raise concern that some of his former Lehman colleagues will join him. Joe Gold, currently head of client capital management, will take over as the head of Barclays' Americas business from May 1.

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