Antony Jenkins will replace former Barclays’ chief executive (CEO) Bob Diamond.
Jenkins who currently heads Barclays’ retail and business banking (RBB) division has been appointed as a director and group chief executive of Barclays with immediate effect.
The news comes just a month after Diamond resigned as Barclays CEO on 3 July 2012 following the recent rate-rigging scandal, in which Barclays was fined a record £290m (US$459m).
There was no indication how the appointment would impact Barclays’ wealth and investment management division.
Stand out candidate
Jenkins beat a rumoured 12 candidates to the post, after impressing Barclays’ bosses. The bank’s current chairman Marcus Agius, who led the search for a new CEO, said Jenkins stood out among a very competitive field of candidates because of his excellent track record transforming Barclaycard and RBB.
Restoring Barclays’ reputation
Jenkins said he was looking forward to getting started in the role straight away and hoped to restore Barclays’ reputation by making it the “go to” bank.
From 30 August 2012, Jenkins will receive an annual salary of £1.1m, less than the £1.35m basic salary Diamond was reported to have been awarded, following his appointment in 2010.
Strong financial background
He brings with him 30 years of experience in finance which began at Barclays in 1983. He later moved to Citigroup in 1989, and then moved back to Barclays to take up various roles in its retail and corporate banking business.
He is also responsible for Diversity and Inclusion at Barclays and is a Barclays appointed non-executive director of Absa, the South African banking group.