Barclays appoints Sir David Walker as chairman
Senior Morgan Stanley adviser tasked with finding Bob Diamond replacement.
Sir David Walker will take over from Marcus Agius as chairman of Barclays Bank with effect from 1 November 2012, and will take on the role of non-executive director from 1 September.
Sir David is currently a senior adviser to US bank Morgan Stanley International and previously held the position of chairman.
Other senior roles previously occupied by Sir David include assistant secretary at the Treasury, executive director at the Bank of England, chairman and chief executive of the Securities and Investment Board, deputy chairman at Lloyds Bank, vice chairman of Legal and General and chairman of the London Investment Bankers Association.
Along with lawyer Bill Knight, Sir David was tasked with critiquing the Financial Services Authority’s report into the failure of Royal Bank of Scotland, and criticised the regulator’s decision to release a one-page summary as “a mistake”.
In a statement to the London Stock Exchange Sir David 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.”
Giving evidence before the Treasury Select Committee, Mr Agius revealed that former chief executive Bob Diamond had lost FSA support, forcing Mr Diamond’s hand in his decision to step down.