Exclusive: Walker To Chair Barclays
The City grandee who oversaw a review of bank governance for Gordon Brown, the former Prime Minister, is to be installed as the new chairman of Barclays, I have learned.
Sir David Walker, a former deputy governor of the Bank of England, will join as non-executive director from September 1 before succeeding Marcus Agius as chairman from November 1.
His recruitment is designed to steer Barclays through the most tumultuous period in its history, following its £290m fine for manipulating the interbank lending rate Libor.
The scandal cost Marcus Agius, the current chairman, Bob Diamond, chief executive, and other executives their jobs.
Sir David is expected to join Barclays within weeks and replace Mr Agius as chairman in the autumn.
His appointment is likely to please shareholders keen for an established City name to help restore stability to Barclays.
Sir David's first role will be to recruit a successor to Mr Diamond. He will also need to examine the structure of Barclays as a universal bank housing both high street and investment banking operations.
Sir David drew up new guidelines for bank boards in the wake of the 2008 financial crisis, and his appointment is likely to be welcomed by the Bank of England and the Financial Services Authority, which helped to engineer Mr Diamond's departure.
Sir David said: "The UK needs a strong financial services sector and Barclays has a crucial role to play in ensuring that this country has a successful, well-governed banking industry."
Sir David, 72, who will receive £750,000 a year for the role, said his "immediate priority" was finding a new chief executive.
what do you think?
I decline to comment as well.
Trough trough!!!! Oink Oink!!
Hey! Walker, don't forget to send me the ppi you owe me,they havn't paid this back to me yet.Barclays are so tight even my finance company can't get it back,they refuse to answer.They ought now to bring out a law to force companys to answer business letters and emails so that people can carry on with their lives with a bit more dosh in the bank!!
Robin Van Der Spiegel
Finance companies are more of a rip off than the banks, they do absolutely nothing that you couldn't do yourself easily and if you are successful (not through anything they have done) they help themselves to 30% of your compensation
at 72 he really needs that type of wage
Can u increase security please i had a old canceled csrd cloned and lost most my wages today! Aparantly when u cancel a card its only the plastic not the info on it that is canceled and all old debit cards are linked! This come from a barclays employee in there fraud department! How can a lost card still be used? Think its time to change banks! Be warned fokes ur money is not safe and u have to prove it fraud!!!
Why do they always employ someone that's already rich.If I had his money i'd be retired and enjoying what life I had left.
And it just goes on and on and on when will we stop it when we see OUR children going hungry.IT WILL BE TO LATE.