Barclays 'looking externally for key appointments'

26 July 2012

Barclays is unlikely to appoint from within when deciding on its new chief executive officer (CEO) and chairman, it has been indicated.

Insiders close to the major British bank have told Reuters that decision-makers at the company are determined to make sure its new senior officials represent something of a fresh start for the embattled group.

The reputation of Barclays has suffered greatly in recent times due to its involvement in the Libor rate-rigging scandal and, as such, the financier is looking to recruit professionals for both these key roles externally.

A shareholder explained that the bank has indicated it may opt for one internal appointment and one external, but it is thought it will look elsewhere - possibly Canada or Australia - to avoid them being tarnished by its recent issues.

Consequently, sources believe Bill Winters - an ex-JP Morgan banker - is the frontrunner for the CEO position, with former UK cabinet secretary Gus O'Donnell fancied for the chairmanship.

By Tony Aynsley

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