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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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Barclays probe 'not focusing on individuals'

The inquiry into Barclays comes after a similar investigation by the Financial Services Authority (FSA) which was revealed last month

The Serious Fraud Office (SFO) has more powers to prosecute than the FSA, the City watchdog, so the investigation moves the accusations into another realm.

Whereas the FSA's investigation was centred on four present and past senior staff, including finance director Chris Lucas, the SFO's probe is currently not thought to be focusing on any individuals.

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