GoldFinger is still trying to work out what Mike Pedersen is actually doing with his job as managing director at Barclays Private Bank. ...

GoldFinger is still trying to work out what Mike Pedersen is actually doing with his job as managing director at Barclays Private Bank.

Late Tuesday afternoon, a Barclays press officer confirmed to WealthBriefing that Mr Pedersen had resigned.

So having got the story confirmed from, so-to-speak the horse’s mouth, WealthBriefing ran the story the following day.

The editorial staff thought not much more about it, but 15 minutes after its release Barclays press office phoned to say he was not in fact resigning, but going on a one-year sabbatical. The press office apologised and WealthBriefing ran a clarification news alert later in the day.

But why the change from resignation, to sabbatical? Did Mr Pedersen have a change of heart in the space of 12 hours?

GoldFinger is perplexed about Mr Pedersen taking a sabbatical right at the time the bank appears to have earmarked wealth management for expansion – at least judging from recent remarks by Bob Diamond, one of Barclays senior managers.

Any enlightenment from those in the know would very much be appreciated by GoldFinger.