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Barclays boss reveals cancer diagnosis but will continue to manage bank

Banking giant Barclays has revealed its chief executive CS Venkatakrishnan is undergoing treatment after being diagnosed with non-Hodgkin lymphoma.

Mr Venkatakrishnan, known as Venkat, told staff in a letter that he will receive treatment at a cancer centre in New York which is likely to last 12 to 16 weeks.

He said the lender will run normally during this time and he will still be “actively engaged in managing it”.

He wrote in the letter: “I am writing to inform you that I have been diagnosed with non-Hodgkin lymphoma. The good news is that the matter has been detected early, with scans and biopsies confirming it to be very localised.

“The doctors have advised that my prognosis is excellent, and my condition is curable with their prescribed regimen.”

The CEO said he will have to work from home for some periods and will not be able to travel.

Non-Hodgkin lymphoma is a type of cancer that develops in the lymphatic system, and most cases are considered very treatable, according to the NHS.

Mr Venkatakrishnan said Barclays’ senior management team will be well-equipped to help lead the business while he undergoes treatment.

He added: “We have a highly capable and seasoned executive committee, supported by a talented senior management team.

“I am very confident that we will continue, with your help, to serve our customers and clients well, and produce strong operating performance for our shareholders.

“I am deeply appreciative, and very proud, of your support and extraordinary efforts in these volatile times.”

Mr Venkatakrishnan took on the chief executive role a year ago, having previously been head of global markets.

He succeeded Jes Staley, who stepped down suddenly after an investigation by the Financial Conduct Authority (FCA) into his links to the late convicted sex offender Jeffrey Epstein.

Mr Staley also ran into trouble with the FCA a year after becoming Barclays’ boss, when he was investigated over an attempt to identify a whistleblower.

His pay was docked as a result of his conduct which contravened the lender’s whistleblowing programme.