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.

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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.

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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.