Further to the announcement made on 7 September 2010 regarding succession, Barclays PLC and Barclays Bank PLC ("Barclays") announce that, in the light of the successful completion of all transition activities, Robert E Diamond Jr will become Group Chief Executive on 1 January 2011.
John Varley will step down from the Barclays Boards and the Group Executive Committee on 31 December 2010. On stepping down, John will become senior advisor on regulatory matters to Bob Diamond and the Boards from that date until 30 September 2011.
Marcus Agius, Barclays Chairman, said:
"Over the last 3 months, John and Bob have made good progress in completing the transition. John's view, with which I and the Board agree, is that we are now ready to effect the hand-over. The speed with which the transition has been completed reflects the continuity in management and strategy that the succession provides."
Barclays is an international financial services provider engaged in personal banking, credit cards, corporate and investment banking and wealth management with an extensive presence in Europe, the Americas, Africa and Asia. Barclays’ purpose is to help people achieve their ambitions – in the right way.
With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs approximately 140,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.
For further information about Barclays, please visit our website www.barclays.com.