Walker plans clear-out at Barclays

Oct 25, 2012

New CEO set to replace most non-executives over next six to 12 months

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Sir David Walker is planning to clear out the entire Barclays board when he becomes chairman next week. The Financial Times reports that Walker has approached a selection of candidates to join the scandal-hit bank, including Lord Levene, former chairman of Lloyd’s of London and Lord Davies, former chairman of Standard Chartered. Walker is set to steadily replace most non-executives over the next six to 12 months, sources claim, and he is also keen to bring in several new top executives. Some expect investment banking head Rich Ricci, who was close to former CEO Bob Diamond, to be replaced, although he has the confidence of Walker.

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