Barclays names Morzaria new Finance Director

Barclays today named Tushar Morzaria as its new Finance Director replacing Chris Lucas who announced his intention to retire in February.Morzaria is expected to start work at Barclays in the autumn and he will join the board an Executive Director at the start of next year."This will allow for an orderly handover of responsibilities from Chris Lucas, who will remain accountable for financial reporting for 2013," the group said in a company statement. Lucas will remain on the Board as Finance Director and a member of the Executive Committee until his retirement as Finance Director at the end of February 2014, at which point Morzaria will take up his responsibilities in full, Barclays explained.Morzaria is currently Chief Financial Officer, Corporate and Investment Banking at JP Morgan Chase, where he has spent the majority of his career. He is a qualified chartered accountant and has previously also held finance roles with Credit Suisse and SG Warburg.Barclays Chief Executive Antony Jenkins commented: "He will bring a welcome new perspective to what is a pivotal role, and I am very much looking forward to working with him as we transform Barclays into the 'Go-To' bank."Barclays has been undergoing a massive reorganisation under new Chief Executive Officer Jenkins who unveiled the group's strategy at its annual results in February.