Barclays appoints ex-Kingfisher CEO as chairman of UK bank

Barclays has appointed Sir Ian Cheshire, former Kingfisher chief executive, as chairman designate of its ring-fenced bank, Barclays UK, which comprises the UK retail banking, business banking, consumer credit card and wealth management businesses.

Cheshire, who has been chairman of Debenhams since last April and is also senior independent director at Whitbread after 17 years with Kingfisher, will begin as a non-executive director of Barclays from 3 April.

Barclays Plc chairman John McFarlane said Cheshire brought an "excellent track record of success as both a chief executive and chairman" and will be a strong addition to both Barclays boards.

"Identifying a chairman for Barclays UK is, of course, an important step on our journey to establish our UK ring-fenced bank and I welcome the opportunity to work closely with Sir Ian as we take Barclays forward in its new structure."

Barclays said that Sir Gerry Grimstone will chair the divisional board of Barclays International and will lead the work to establish the new board of Barclays Bank plc, which will become the non ring-fenced bank in due course, in line with regulatory requirements.