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Barclays appoints new chairman

  • Barclays has appointed Sir David Walker as its new chairman in the wake of the Libor rate-rigging scandal.

    Sir David is a senior banker who led a 2009 government inquiry into how banks are run.

    He will become a non-executive director on September 1 and take up his post as chairman from November.

    Chairman Marcus Agius said he would resign after Barclays was fined for attempting to manipulate the Libor inter-bank lending rate.

    Barclays is also currently without a chief executive after Bob Diamond also quit in July.

    Barclays was fined £$450 million by UK and U.S. financial regulators in June after it was revealed that some of its derivatives traders had attempted to rig the rate.