Barclays boss Venkat to receive cancer treatment in New York

The chief executive of Barclays has been diagnosed with cancer, the bank has said.

Coimbatore Sundararajan Venkatakrishnan, known as Venkat within the bank, is to undergo treatment for non-Hodgkin lymphoma in New York.

That was expected to last between 12 and 16 weeks, during which time he will work at home for some periods.

Mr Venkatakrishnan, 56, said in a letter that his condition was curable and that doctors have said his prognosis is “excellent”.

“During this period, the company will run normally, and I will continue to be actively engaged in managing it,” he wrote.

“The good news is that the matter has been detected early, with scans and biopsies confirming it to be very localised.”

A spokesperson for the bank confirmed that the bank had not appointed any interim chief executive.

They added that Venkat, who is a US citizen, may have to cut back on public engagements such as a scheduled appearance at the World Economic Forum meetings in Davos next January.

Non-Hodgkin lymphoma is a cancer that develops in the lymphatic system, weakening the immune system, but most cases are considered “very treatable”, according to the NHS website.

Mr Venkatakrishnan was appointed to the role just over a year ago after the sudden departure of Jes Staley.

He was previously head of global markets at the bank.