Reuters: Bankruptcy News: CORRECTED-Barclays says wealth unit exec Lowitt resigning

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CORRECTED-Barclays says wealth unit exec Lowitt resigning Apr 12th 2012, 22:54 Thu Apr 12, 2012 6:54pm EDT NEW YORK, April 12 (Reuters) - Barclays said on Thursday that Ian Lowitt, the last chief financial officer of Lehman Brothers before its 2008 collapse, is leaving Barclays to take an undisclosed job. Lowitt served as chief operating officer of Barclays' wealth management division for the Americas region. "Ian Lowitt will be leaving Barclays to pursue another opportunity. He will work with us during a transition, and we wish him all the best," said Barclays spokeswoman Monique Wise, who declined to comment on the duration of the transition period. Lowitt, 48, was named CFO of Lehman, then the fourth-largest U.S. investment bank, in June 2008, replacing Erin Callan as Lehman's shares plunged. By September the company had collapsed into the largest bankruptcy in U.S. history. Lowitt joined Lehman in 1994 and rose through the ranks to become treasurer in 2000. He was named chief administrative officer in 2005. Much of Lehman's investment banking and money management businesses were acquired by Barclays PLC out of bankruptcy court. They included a high-net worth private client business that now comprises Barclays' wealth division, with $253 billion in client assets worldwide.

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