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Former Chancellor Named To Barclays’ Board

February 1, 1990

LONDON (AP) _ Nigel Lawson, who resigned abruptly as Britain’s top treasury official in October, has been named a director of Barclays Bank PLC, the bank said Thursday.

His addition to the board is effective immediately and brings the number of directors to 25, 13 of whom are not executives of the bank.

Lawson, who will continue as a Conservative Party member of Parliament, also will serve as a part-time adviser to the bank. Barclays declined to disclose how much he would be paid.

Lawson, 57, told Press Association, Britain’s domestic news agency, that the new position ″fits well with my plans to write a book and remain in politics.″

He resigned as chancellor of the exchequer Oct. 26, telling Prime Minister Margaret Thatcher that he couldn’t continue as long as her economic adviser Sir Alan Walters remained. The two men had had public disputes about currency policy.

Lawson had held the post for more than 6 years, making him one of Britain’s longest-serving chancellors.

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