Bob Diamond to Take the Helm at Barclays
Barclays and Barclays Bank have announced that John Varley intends to step down as group chief executive officer (CEO) on 31 March 2011. Robert Diamond Jr will succeed him. From 1 October 2010, Diamond will be president and deputy group CEO. Diamond currently leads the corporate and investment banking and Barclays wealth businesses of the group. He has been a member of the board of Barclays since 2005.
Varley will become a senior advisor on regulatory matters to Diamond and to the board of Barclays until 30 September 2011.
Jerry del Missier and Rich Ricci will become co-CEOs of Barclays Capital, effective 1 October 2010, in addition to being co-CEOs of the corporate and investment bank.