PART THREE

Questions 13-20

. Read this text about the problem of Barclays Bank.

The New Look

When Sir John Quinton, then chairman of Barclays Bank, was given his marching orders last April, Britain's biggest bank thought it had found the scapegoat for its sudden fall from grace and profits ,Andrew Buxton, the bank's managing director and an offspring of its founding families ,was a pointed chairman and chief executive ,with effect from January 1st of next year. It seemed a glorious victory for good business management. Is the problem solve do Certainly not.

1. No sooner had Mr. Buxton been appointed chairman and chief executive than big shareholders and quite a few board members began quietly to question his ability to do both jobs at once. Now ,weeks before he is due to move up ,the questions are louder. Many wish the bank had seized the opportunity Lasy April to separate the two top posts. And privately. Some wonder whether Mr. Buxton is the right man for either one. What started as a thoroughly British Whispering Campaign has assumed much bigger dimensions..

2. Mr. Buxton has suffered it all ,but in truth he has no way out. After weeks of talking to shareholders and discussing with his non-executive directors ,he has accepted that Barclays will separate the top jobs sometimes in the future. How7 He says that there has been no formal discussion of it in the boardroom.

3. Formally or informally, it has been agreed that Mr. Buxton will not be moved from his chairmanship, and that Barclays must find a strong chief executive. Opinions differ as to whether this person should be chosen from inside or outside the bank. Several board members believe that there is no ideal candidate inside Barclays.

4. Neither shareholders nor non-executive directors want to wait long. If the right candidate can be found, the bank could combine the announcement of a new appointment with its annual results at the end of March. Mr Buxton stressed the importance of getting this next step right, particularly since any appointment will mean overturning a management reorganization that was announced only eight months ago.

Questions 13-16

. For questions 13- 16 ,choose the correct title for each paragraph from the box below.

. For each paragraph(l-4) mark one letter (A-G) on your Answer Sheet.

. De not mark any letter twice.

13. Paragraph 1 ____

14. Paragraph 2 ____

l5. Paragraph 3 ____

16. Paragraph 4 ____