BARCLAYS Bank has put new rules on corporate governance to the test by appointing chief executive Matt Barrett as its new chairman.
The move goes against recommendations in the Higgs Review on best boardroom practice, although Barclays said Mr Barrett's promotion met the requirement of exceptional circumstances allowed for by Higgs earlier this year.
A Barclays spokeswoman said: "We believe that Matt Barrett is uniquely qualified for this role. He is one of the world's most senior bankers."
The appointment will take effect at the end of next year.
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