Barclays handed more power to Bob Diamond, head of its investment banking arm, in a surprise shake-up on Tuesday that will see Frits Seegers ousted after three years running the global retail and commercial banking business. Seegers, hired from Citigroup on a £12m package, will leave in the reorganisation. Antony Jenkins, head of the Barclaycard credit card business, will replace Seegers and lead a new global retail banking division. The changes give Diamond control of corporate banking in addition to Barclays Capital. See also FT analysis and FTAlphaville on Barclays’ “boardroom execution”.
