You are here: Home - Saving & Banking - News -

Sir David Walker to become Barclays chairman in November

Written by:
Barclays has confirmed Sir David Walker will succeed Marcus Agius as chairman of the bank on 1 November, following press reports yesterday.

Walker becomes a non-executive director on 1 September, while Agius will step down from his post on 31 October.

Walker is currently a senior adviser to Morgan Stanley International, and was previously chairman. He has held a number of high profile positions over the past 30 years including assistant secretary at the Treasury and executive director at the Bank of England.

He has also been chairman and chief executive of the Securities and Investment Board; deputy chairman at Lloyds Bank; vice chairman of Legal & General; and chairman of the London Investment Bankers’ Association.

Since 2007 he has completed two independent reports and made recommendations regarding the private equity industry and corporate governance at financial institutions. He also co-led the independent review of the report the FSA produced into the failure of Royal Bank of Scotland.

Agius said, “Barclays is fortunate to have attracted Sir David Walker to succeed me as chairman. He will be taking over at a time when Barclays universal banking model is delivering a strong performance in difficult markets. I wish him every success as he leads Barclays at this important time.”

Walker said his first priority is to appoint a successor to Bob Diamond, who exited the bank under pressure from the FSA and Bank of England following the LIBOR fixing scandal which saw Barclays hit with a £290m fine.

Chief operating officer Jerry del Missier was another high profile executive to leave the firm following the LIBOR revelations.

Walker said: “I am looking forward to joining the Barclays boards and to playing my part in taking the company forward after recent events.

“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.

“My immediate priority, and critical to Barclays ongoing success, will be the appointment of a new chief executive and I will be fully engaged in that process.”

Barclays shares were up 0.73% to 180.1p at the start of trading.


Tag Box




Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co... Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
Good news at last! UK GDP to be revised up after construction boost

The UK economy has been given a surprise boost after the latest official data from the construction sector showed a...