Barclays has named retail banker Antony Jenkins as chief executive as the bank tries to recover from the interest rate-rigging scandal that brought down his predecessor Bob Diamond.
Two months ago Barclays was fined more than $US450 million for manipulating Libor benchmark interest rates, prompting Mr Diamond's resignation.
Mr Jenkins currently runs Barclays Retail and Business Banking and has been a member of the group's executive committee since 2009, the BBC reports.
The announcement comes a day after Barclays the Serious Fraud Office was investigating the bank.
The bank said the SFO was investigating payments between the bank and Qatar Holding LLC, part of sovereign wealth fund Qatar Investment Authority, in 2008.
Mr Jenkins will be paid a salary of £1.1 million, though total remuneration including bonus, long-term incentives and pension could be £8.6 million. This is still 29% less than his predecessor's total pay.
