Jenkins appointed to lead Barclays

Who is the new Barclays CEO?
Who is the new Barclays CEO?

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Who is the new Barclays CEO? 02:59

Story highlights

  • Appointment fills gap left by Bob Diamond
  • Diamond stepped down in July after transatlantic regulatory probe
  • Probe looks into bank's attempted manipulation of Libor interbank borrowing rates
  • Serious Fraud Office opens formal criminal probe related to 2008 capital raising
Barclays has appointed Antony Jenkins as chief executive with immediate effect, as the crisis-hit bank seeks to regain its footing in the wake of a new investigation by the Serious Fraud Office.
Jenkins, a member of the bank's executive committee since 2009, steps up to the role from his position as head of Barclays' retail and business banking division.
His appointment fills the gap left by Bob Diamond, who stepped down in July following a transatlantic regulatory probe into the bank's attempted manipulation of Libor interbank borrowing rates, which resulted in a £290M ($460M) fine.
Jenkins said: "Barclays is a strong universal bank, with many assets . . . but we have made serious mistakes in recent years and clearly failed to keep pace with our stakeholders' expectations.
"We have an obligation to all of those stakeholders -- customers, clients, shareholders, colleagues and broader society -- and a unique opportunity to restore Barclays' reputation. That journey will take time, we have much to do, and I look forward to getting started immediately."
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Barclays' blame game
Barclays' blame game

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Barclays has previously identified Sir David Walker as the replacement for Marcus Agius, who will vacate the chairman's role later this year.
Sir David said: "The field of shortlisted candidates that I met was very strong, and it was clear that Antony was the outstanding choice. His track record, familiarity with the group and vision for the future are all highly compelling."
The appointment follows Wednesday's decision by the Serious Fraud Office to examine payments the bank made as part of its 2008 capital raising from Middle East investors.
Barclays confirmed that the SFO had opened a formal criminal probe into the issue.