Alison Carnwarth: “I sometimes... don’t go to sleep at all because I’m anxious”

Why did Alison Carnwarth quit? Her last interview gives a few clues.

Alison Carnwarth has just quit her position on Barclays' board, continuing a series of resignations which has included Marcus Agius, Bob Diamond and Jerry del Missier.

Her statement read: “With regret I have concluded that I am no longer able to devote sufficient time to my role as a director of Barclays given my other commitments.”

She cited no other reasons, and her decision has left people speculating. But her most recent interview, given to economia magazine, gives a few clues. Here's an extract:

“None of us can be proud of how all this [Bob Diamond's renumeration package] was portrayed to the great British public.” She’s keen to point out that she is aware of the mood in the country, and what “people have had to put up with, ordinary people like you and me. When I’m not doing my job I’m an ordinary person. “But, remuneration and risks aside, to sit on the board of somewhere like Barclays, you have a window on how the world is working. You see where the capital flows are around the world, you see where the liquidity is, and you see where the stresses are in the financial system.”

Like any ordinary person, she worries. “I sometimes wake up worried – or don’t go to sleep at all because I’m anxious,” she says. “That’s not so good. Last night I lay awake fretting about something. I then have to stand up and somehow all the worry drains out of my feet, or I write things down."

She said that "a lot of pressures" had come to bear on the remuneration committee.

“It’s not easy, and we don’t always get it right. We clearly didn’t get it right this year. The shareholders were a little upset, although they weren’t upset in the same way as we’ve seen at other companies; our proposals did get through. But, whereas in previous years we would have got perhaps 85% voting in favour of our remuneration report, this year it was just over 70%. So clearly there were some major institutions that were not in agreement with what we did, and we must try to communicate better.”

“I’m very sensitive to the general feeling out there, when people are miserable and unemployed."

The full interview can be read in Friday's economia.

Barclays. Photograph, Getty Images.
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Inside a shaken city: "I just want to be anywhere that’s not Manchester”

The morning after the bombing of the Manchester Arena has left the city's residents jumpy.

On Tuesday morning, the streets in Manchester city centre were eerily silent.

The commuter hub of Victoria Station - which backs onto the arena - was closed as police combed the area for clues, and despite Mayor Andy Burnham’s line of "business as usual", it looked like people were staying away.

Manchester Arena is the second largest indoor concert venue in Europe. With a capacity crowd of 18,000, on Monday night the venue was packed with young people from around the country - at least 22 of whom will never come home. At around 10.33pm, a suicide bomber detonated his device near the exit. Among the dead was an eight-year-old girl. Many more victims remain in hospital. 

Those Mancunians who were not alerted by the sirens woke to the news of their city's worst terrorist attack. Still, as the day went on, the city’s hubbub soon returned and, by lunchtime, there were shoppers and workers milling around Exchange Square and the town hall.

Tourists snapped images of the Albert Square building in the sunshine, and some even asked police for photographs like any other day.

But throughout the morning there were rumours and speculation about further incidents - the Arndale Centre was closed for a period after 11.40am while swathes of police descended, shutting off the main city centre thoroughfare of Market Street.

Corporation Street - closed off at Exchange Square - was at the centre of the city’s IRA blast. A postbox which survived the 1996 bombing stood in the foreground while officers stood guard, police tape fluttering around cordoned-off spaces.

It’s true that the streets of Manchester have known horror before, but not like this.

I spoke to students Beth and Melissa who were in the bustling centre when they saw people running from two different directions.

They vanished and ducked into River Island, when an alert came over the tannoy, and a staff member herded them through the back door onto the street.

“There were so many police stood outside the Arndale, it was so frightening,” Melissa told me.

“We thought it will be fine, it’ll be safe after last night. There were police everywhere walking in, and we felt like it would be fine.”

Beth said that they had planned a day of shopping, and weren’t put off by the attack.

“We heard about the arena this morning but we decided to come into the city, we were watching it all these morning, but you can’t let this stop you.”

They remembered the 1996 Arndale bombing, but added: “we were too young to really understand”.

And even now they’re older, they still did not really understand what had happened to the city.

“Theres nowhere to go, where’s safe? I just want to go home,” Melissa said. “I just want to be anywhere that’s not Manchester.”

Manchester has seen this sort of thing before - but so long ago that the stunned city dwellers are at a loss. In a city which feels under siege, no one is quite sure how anyone can keep us safe from an unknown threat

“We saw armed police on the streets - there were loads just then," Melissa said. "I trust them to keep us safe.”

But other observers were less comforted by the sign of firearms.

Ben, who I encountered standing outside an office block on Corporation Street watching the police, was not too forthcoming, except to say “They don’t know what they’re looking for, do they?” as I passed.

The spirit of the city is often invoked, and ahead of a vigil tonight in Albert Square, there will be solidarity and strength from the capital of the North.

But the community values which Mancunians hold dear are shaken to the core by what has happened here.

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