Barclays' chairman Marcus Agius is last of the old school
Marcus Agius is one of the City’s last bankers of the old school.
His resignation could be seen as the final nail in the coffin for so-called Gentlemanly Capitalism, in steady decline ever since Big Bang opened up the City to Wall Street 25 years ago.
Agius, 65, has been chairman of Barclays since 2007, at first deftly presiding over the competing egos of John Varley, then chief executive, and Bob Diamond, then head of Barclays Capital, the investment banking arm.
He has also been given credit for being at the head of the boardroom table when Barclays navigated its way through the financial crisis more or less unscathed and, indeed, was able to pick up the carcass of the Lehman Brothers business.
But since Mr Diamond took over as chief executive last year, there have been mounting concerns that Agius has failed to rein in the excesses of the American banker, and the brash BarCap culture, or keep adequately in touch with shareholders and their wishes....
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