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.
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