knowing what was going on. Barclays was making over £1 billion a year from the practice - a material portion of its total profit. This all came to a grinding halt when The Wall Street Journal published an exposé of the dodge in a front page, column one, article on 30 June 2006 by Carrick Mollenkamp, which ensured that Parliament, the Bank of England, and the UK Inland Revenue and the American Internal Revenue Service would see it and become aware of the scam, and the practice was subsequently outlawed, thus eliminating a major source of income for Barclays. Barrett "retired" six months after the scandal broke. When his retirement was suddenly announced, The Times of London reported that "The imminent departure of Mr Barrett will come as a shock to many in the City who expected him to stay on much longer as chairman". Personal life Born in County Kerry, Ireland, he attended the Christian Brothers School in Kells, County Meath, and the Advanced Management Programme at Harvard Business School in 1981. Barrett is twice divorced (married Irene Korsak c. 1967, divorced 1995; married Anne-Marie Sten, 1997), with four children from his first marriage. He was made an Officer of the Order of Canada in 1994 for "fostering the advancement of women in the banking industry", and has dual Irish and Canadian citizenship. In 2009, he married Diane Milner. They live in Palm Beach, Florida. Notes 1944 births Living people Bank of Montreal presidents Canadian chairpersons of corporations Officers of the Order of Canada People from County Kerry Irish emigrants to Canada Irish chairpersons of corporations Directors of Bank of Montreal Chairmen of Barclays Royal Bank of Canada people Chief operating officers