The Associated Press
September 7, 2010, 2:24AM ET
Barclays CEO John Varley to step down
LONDON
The chief executive of Barclays bank says he will step down next year, to be succeeded by the head of the group's highly profitable investment banking operation.
Barclays said Tuesday that John Varley will retire as CEO on March 31, handing over to Robert E. Diamond Jr.
Diamond currently heads Barclays' corporate and investment banking unit and its Barclays Wealth business. He will assume the title of president and deputy group chief executives on Oct. 1.
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