Full-scale Barclays review as Agius steps down

01/07/2012

By Marcus Leach

Barclays chairman, Marcus Agius, has resigned from his position following the inter-bank lending rate-fixing scandal that has rocked Barclays.

Having already been hit with a record fine from the Financial Services Authority last week, the news that Mr Agius will step down is a further blow.

Following his resignation the bank has promised a 'root and branch review', although Mr Agius will not step down immediately, rather when an orderly succession is assured.

"The buck stops with me," Mr Agius, who will face questions from MPs on the Treasury Committee on Thursday, said.

Last week Barclays was fined £290m ($450m) for attempting to manipulate the Libor inter-bank lending rate.

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