(Alliance News) - Barclays PLC and Legal & General Group PLC on Monday said L&G Chair John Kingman will join the board of Barclays as a non-executive director on June 1 and will become the next chair of Barclays Bank UK PLC.
As chair of the ring-fenced UK banking subsidiary, Kingman will replace Crawford Gillies. The appointment is subject to regulatory approval.
Kingman on Sunday stepped down as chair of Tesco Bank, part of grocer Tesco PLC. He previously worked in senior positions at the UK Treasury, as the first chief executive of UK Financial Investments Ltd, and as global co-head of financial institutions group at financial services company Rothschild & Co.
Barclays shares were up 0.6% to 179.52 pence each on Monday morning in London, while Legal & General shares were 0.6% higher at 256.35p each.
By Tom Budszus, Alliance News reporter
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Barclays (BARC)
Legal & General (LGEN)
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