SFO inquiry for new Barclays CEO

Barclays has named the head of its retail division Antony Jenkins as its new chief executive to replace Bob Diamond. Its shares have fallen 1% after the Serious Fraud Office launched an investigation into an investment made by Qatari businessmen.

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Why is Barclays being investigated?

The bank raised billions of pounds from Middle East investors at the height of the financial crisis in 2008.

The Serious Fraud Office is looking in particular at payments between the bank and Qatar Holding - part of sovereign wealth fund Qatar Investment Authority - which is understood to have made a £2 billion investment.

Barclays unveils new chief executive

Antony Jenkins has been named as the new CEO of Barclays. Credit: Barclays.com

His biography says: "Antony was Chief Executive of Retail and Business Banking and joined the Barclays Executive Committee in November 2009. Prior to that he had been Chief Executive of Barclaycard since January 2006 where he led a revival in the fortunes of the business."

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