Barclays strengthens its board with the appointment of former Treasury mandarin Sir John Kingman
City heavyweight: Sir John Kingman has been named chairman of Barclays UK retail arm
Barclays has strengthened its board 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 remain at L&G but stepped down as chairman of Tesco Bank over the weekend. Barclays praised Kingman’s “deep experience in financial services”, including in the public and private sectors.
As a senior Treasury official, Kingman, 53, played a major role in the UK’s response to the financial crisis, overseeing the bailouts of Lloyds and the Royal Bank of Scotland as well as the nationalization of Northern Rock.
He then headed UK Financial Investments, the government body responsible for overseeing taxpayers’ interests in the banking system.
