Irishman Barrett on verge of landing top job at banking giant Barclay's

BARCLAY'S chief executive, Irishman Matt Barrett, is poised to become chairman of the banking giant earlier than expected, it was reported yesterday.

Succession plans in place since last October said that the Kerry-born Mr Barrett would replace Peter Middleton as chairman at the end of the year with former finance director John Varley stepping into the chief executive's role.

However, The Sunday Telegraph said Barclays would announce this week that Mr Middleton's retirement had been moved to September ending five years as chairman. The report said shareholders had been concerned about the year-long wait for Mr Varley to take on the top job, while Mr Middleton's departure at the end of the year, rather than at the annual meeting in May, was also seen as unusual.