Watch CBSN Live

Jeb Bush to step down as adviser to Barclays

Former Florida Gov. Jeb Bush is quitting his position as adviser to British banking giant Barclays effective Dec. 31, a Bush spokesman confirmed to CBS News Thursday. He has been with Barclays since 2009, the year he left the governor's office.

An aide said he counseled business clients around the world on economic regulations and policies. Bush's team would not discuss compensation related to the departure. The news was first reported by the Financial Times.

The potential Republican presidential contender also plans to stop adding paid speeches to his schedule, although he will honor a handful already booked for early next year.

The news comes two days after Bush announced on Facebook that he would be actively exploring a presidential bid. Last week, he said he would release 250,000 of his emails dating to his time in the governor's office.

The son and brother of former Republican presidents, Bush's announcement was welcome to the Republican establishment.

Bush has yet to step away from a series of other complicated business interests recently reported by Bloomberg BusinessWeek's Josh Green. He raised more than $60 million as chairman and manager of a new private equity fund as recently as September.

Advisers have long said that Bush would review his business ties should he run for president. It's unclear if or when he would distance himself from his private equity work or corporate boards, although past presidential candidates usually did so years before launching their campaigns.

View CBS News In