Barclays names Sir David Walker as new chairman

Source: The Guardian

Barclays has named the City establishment figure Sir David Walker as its new £750,000 a year chairman as it moves quickly to fill the management void created in the wake of the Libor scandal.

Walker, a 72-year-old who has worked in finance and banking for half a century, will replace Marcus Agius, who resigned following the record breaking £290m fine slapped on the bank for attempting to manipulate the crucial interest rate benchmark.

The appointment of the Cambridge graduate, who began his career in the Treasury and the Bank of England before becoming a regulator, will help to accelerate the search for a new chief executive to replace Bob Diamond, who left abruptly the week after the Libor fine was announced in June.

Read more: http://www.guardian.co.uk/business/2012/aug/09/barclays-sir-david-walker-new-chairman