Barclays announced that Bob Diamond, who was not set to take over the reins of Britain’s third- biggest bank for another three months, will move into the driver’s seat on January 1.
Diamond is currently the head of Barclays Capital, the bank’s investment banking business. He oversaw the bank’s purchase of Lehman Brothers’ U.S arm.
He’s replacing John Varley, who’s said to be on the path to chairmanship of Vodaphone, according to Bloomberg.
[I]n the light of the successful completion of all transition activities, Robert E Diamond Jr will become Group Chief Executive on 1 January 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.”
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