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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/12/barclays-speeds-up-handover-process.jpg"><img class="alignnone size-full" title="Barclays said the handover from current chief executive John Varley will take place on January 1" src="http://londonglossy.com/wp-content/uploads/2010/12/min-barclays-speeds-up-handover-process.jpg" alt="Barclays said the handover from current chief executive John Varley will take place on January 1"/></a></p>
<p>Barclays will begin 2011 with a new boss after the banking giant brought forward the start date for American-born banker Bob Diamond.</p>
<p>The company said the handover from current chief executive John Varley will take place on January 1, three months earlier than previously expected.</p>
<p>Barclays chairman Marcus Agius said: &#8220;Over the last three months, John and Bob have made good progress in completing the transition. John&#8217;s view, with which I and the board agree is that we are now ready to effect the handover.</p>
<p>&#8220;The speed with which the transition has been completed reflects the continuity in management and strategy that the succession provides.&#8221;</p>
<p>Mr Varley, who steered Barclays through the financial crisis without the need to call on government funds, will step down from the board on December 31 but is to be a senior adviser on regulatory matters until the end of September.</p>
<p>Mr Diamond has been with Barclays for 14 years and built its investment banking arm from scratch into a business so large it generates more than 80% of the bank&#8217;s total profits.</p>
<p>The 59-year-old, one of the world&#8217;s richest bankers, will be paid a £1.35 million annual salary, up from the current £250,000, and stands to receive potential bonuses worth another £10 million.</p>
<p>Barclays announced plans for Mr Varley&#8217;s departure and the appointment of Mr Diamond in September.</p>
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