The former chief of Morgan Stanley International, Sir David Walker, will replace Marcus Agius as chairman of Barclays in November.
As well as serving as chairman at Morgan Stanley International, Sir David , 72, was assistant secretary to the Treasury in the late nineteen seventies and was director at the Bank of England between 1989 and 1995.
Despite his resignation in July following the alleged rate fixing scandal, Mr Agius had remained in the position whilst the bank found a suitable candidate.
The scandal, which shook the banking world, also resulted in the resignation of Barclays' chief executive Bob Diamond and chief operating officer Jerry del Messier.
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