Barclays has recruited Nigel Higgins from Rothschild to replace John McFarlane as chairman. Higgins will take over at Barclays' next annual meeting on 2 May when McFarlane will leave the bank.
Barclays is being threatened with a boardroom shake-up after an activist investor announced plans for a shareholder vote on the bank's leadership. Edward Bramson, who has spent about Β£900m building a 5.5% stake in Barclays through his investment vehicle Sherborne Investors, told his own shareholders that a vote was necessary, given that "consistent engagement" with Barclays had failed to yield results. - Guardian