Last updated: February 16. 2013 2:51PM - 83 Views

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(AP) Investors have reacted positively to Barclays' appointment of a new chairman.


Barclays shares were up 1.1 percent at 181 pence on the London Stock Exchange early Friday, outperforming the FTSE 100 index, which was trading 0.2 percent lower.


A day earlier, the bank announced that Sir David Walker, whose former posts include deputy governor of the Bank of England and chairman of Morgan Stanley International, would become chairman on November 1.


He replaces Marcus Agius, who offered his resignation after Barclays was fined $453 million by U.S. and British regulators for manipulating a key market index, the London interbank offered rate (LIBOR).


Walker says he will be "fully engaged" in the selection of a chief executive to replace Bob Diamond, who also resigned in the wake of the LIBOR scandal.


Associated Press
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