Focus back on Barclays as Agius faces committee’s questioning

MARCUS Agius, the chairman of Barclays, will today face questioning from MPs over his knowledge of the extent of the Libor scandal, following the appearance of former chief executive Bob Diamond and yesterday’s questioning of the deputy governor of the Bank of England, Paul Tucker.

Agius, who stepped down as chairman last week but remains in the job while a new chairman and CEO are found, will appear in front of the Treasury select committee at 10am this morning.

He is likely to be asked about the extent of senior Barclays bankers’ involvement in the rate fixing scandal, as well as answering questions on executive pay and his plans for a “root and branch review” of Barclays’ past practices.

MPs could also question Agius on what correspondence he received from the Bank of England and Whitehall after Mr Tucker’s denial that he “leant” on Barclays to reduce their Libor submissions.

“As chairman, I am the ultimate guardian of the bank’s reputation. Accordingly the buck stops with me,” Agius said on stepping down after five years as chairman.

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