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Barclays strengthens its board with the appointment of former Treasury mandarin Sir John Kingman
City heavyweight: Sir John Kingman has been appointed chairman of Barclays UK retail arm
Barclays strengthened its governance with the appointment of former Treasury mandarin Sir John Kingman as chairman of its UK retail arm.
The banking giant said Kingman will replace Crawford Gillies, who will step down in May after nine years on the board.
Kingman, chairman of Legal & General, will oversee Barclays UK, the group’s ring-fenced bank. He will stay on at L&G, but stepped down as chairman of Tesco Bank last weekend. Barclays praised Kingman’s “deep background in financial services,” including in the public and private sectors.
A top Treasury official, 53-year-old Kingman played a key role in the UK’s response to the financial crisis, overseeing the bailouts of Lloyds and Royal Bank of Scotland, as well as the nationalization of Northern Rock.
He then headed UK Financial Investments, the government body charged with overseeing taxpayers’ interests in the banking system.