[ by Melanie Gretchen]

Barclays has found a replacement for former CEO Robert Diamond Jr., who quit after the bank agreed to pay $450 million to settle allegations that it manipulated Libor.  Antony Jenkins, currently head of Barclays retail and business banking unit, will launch a 3-pronged approach to changing the bank over the next 3-5 years, sources at Barclays said.

Mr. Jenkins, who has been at the British bank for more than 30 years, comes from retail banking;  his unit was not implicated in the allegations facing the bank's investment banking division.  In his new role, Mr. Jenkins will commence a root and branch review of the bank.  Specifically, he will focus on stabilization after recent events, a fundamental review of the business, and restoring trust in the bank by examining its culture, practice and values.

"We have made serious mistakes in recent years and clearly failed to keep pace with our stakeholders' expectations.  We have an obligation to all of those stakeholders - customers, clients, shareholders, colleagues and broader society - and a unique opportunity to restore Barclays reputation by making it the "go to" bank in all of our chosen markets.  That journey will take time, we have much to do, and I look forward to getting started immediately." -- Mr. Jenkins, in a statement.

For further details, go to [CNBC, 8/30/12].