Barclays has appointed David Walker as its new chairman with a strategy to regain the footprint in the UK bank's reputation after Libor lending rate scandal.
Walker appointment will be effective from 1 September 2012 and will succeed Marcus Agius as chairman of Barclays with effect from 1 November 2012, said the bank.
The bank was eager to fill the void emerged from the mass resignation of its top three senior executives, due to outburst of rate fixing case.
Walker said, "Barclays has a crucial role to play in ensuring that this country has a successful, well-governed banking industry."
"My immediate priority, and critical to Barclays ongoing success, will be the appointment of a new chief executive and I will be fully engaged in that process."
Walker is currently acting as a senior adviser to US bank Morgan Stanley, and prior to this he worked as chairman at Morgan Stanley International.
He has held various senior positions during his 30 years of banking career including assistant secretary at the Treasury; executive director at the Bank of England; chairman and chief executive of the Securities and Investment Board; deputy chairman at Lloyds Bank; and chairman of the London Investment Bankers’ Association.
Agius said, "Sir David Walker will be taking over at a time when Barclays universal banking model is delivering a strong performance in difficult markets. I wish him every success as he leads Barclays through the next stage of its development."