Maria Ramos spread too thin, critic argues

The loyalty of Maria Ramos, Barclays Africa's CEO, to her bank came under the spotlight at its annual general meeting in Johannesburg this week.

Roy McAlpine, Liberty Life's former head of investment activities, said Ramos's time was divided between too many company boards. He questioned whether she "lives and breathes" Barclays Africa.

The chartered accountant, who helped Donald Gordon build Liberty Life into one of the most formidable financial companies in South Africa, pointed out that Barclays Africa required Ramos to commit to more than 28 board and board committee meetings each year.

Speaking from experience, McAlpine suggested that this must be a tall order for someone who also served on the executive committee of parent company Barclays - which required extensive preparation and frequent travel to London.

In addition to these responsibilities, Ramos serves on the board of the World Economic Forum and as a non-executive director of luxury goods group Richemont, based in Zurich, Switzerland.

mini_story_image_vleft1

Based on her quarterly attendance of Richemont meetings, he calculated that she earned around R1.7-million in board fees, "which seems a lot".

McAlpine assumed that Ramos's duties to Richemont alone must be consuming about 15 days of her time flying to and from meetings.

McAlpine urged the board to consider his criticism as constructive.

He wanted to know the policy regarding a CEO with so many obligations outside the group - especially companies such as Richemont from which Barclays Africa did not benefit in terms of synergies.

Barclays Africa chairwoman Wendy Lucas-Bull jumped to Ramos's defence, saying the group was well aware of her workload but was confident that she "sleeps, eats and breathes" Barclays Africa.

She said Barclays Africa benefited significantly from Ramos serving on the executive committee of Barclays as this kept her in touch with the parent bank's global operations.

Lucas-Bull added that serving on such boards as Richemont and the World Economic Forum was necessary to keep Ramos in touch with issues outside her industry.

A visibly annoyed Ramos contested that she used her annual leave for her Richemont duties and said her obligations outside the bank did not conflict with her duties and role as head of Barclays Africa.