- Barclays said that Sir Ian Cheshire would be stepping down as chair of Barclays Bank UK and would be succeeded by Crawford Gillies from 1 January 2021.

Cheshire would stay on the board of Barclays until the AGM in May 2021 in order to help ensure a smooth transition.

Over the next few years, Barclays UK would need a 'concerted focus on its plans to position the bank to support customers against a backdrop of an economy recovering from the effects of the COVID-19 pandemic and a continuing low interest rate environment,' the company said.

'With regret, Sir Ian has informed the group that he is unable to accommodate the increased time commitment and duration required to see through this programme,' it added.

Crawford's track record and deep knowledge of the group, including Barclays UK, positions him well for the role.

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