Barclays has named its retail and business banking boss Antony Jenkins as chief executive.
This comes a day after Barclays said the Serious Fraud Office was investigating payments made between Barclays and its Middle East investors Qatar Holding.
Mr Jenkins takes on the post with immediate effect and succeeds former chief executive Bob Diamond, who quit in the wake of its interbank rate rigging scandal.
Barclays shares opened one per cent lower on the day of the appointment.
Mr Jenkins, who has been on the executive committee since 2009, will be paid £1.1 million a year in the role.
His package includes potential annual bonuses of up to 250 per cent of salary and long term incentive shares worth a possible £4.4 million each year.
He will be joined at the top in November by incoming chairman Sir David Walker, who takes over from Marcus Agius, who announced his intention to resign after the Libor rigging furore.