Chairman shake-up at Aviva as McFarlane joins Barclays

Barclays has ended its search for a new chairman by announcing that banking veteran John McFarlane will take on the role from next year.

Sir Adrian Montague, Aviva - Credit: Archant

He will replace Sir David Walker, who stepped into the chairman's seat in 2012 following the Libor-rigging scandal that left Barclays' reputation in tatters.

The handover following the bank's AGM next spring triggers changes at the top of insurance giant Aviva and transport operator FirstGroup because Mr McFarlane is currently chairman of both companies.

He will be stepping down from those positions next year, prompting Aviva to announce current board member Sir Adrian Montague as its new chairman.