Barclays announced that Tushar Morzaria will be appointed as group finance director to succeed Chris Lucas in this role. Lucas announced in February 2013 his intention to retire.

Morzaria is currently chief financial officer, Corporate and Investment Banking at JPMorgan Chase, where he has spent the majority of his career. A qualified chartered accountant, he has previously also held roles in the finance functions of Credit Suisse and SG Warburg.

Morzaria is expected to begin work at Barclays in the autumn of 2013, at which point he will join the Executive Committee, reporting to group chief executive Antony Jenkins. He will join the Board as an executive director, effective January 1, 2014. This will allow for an orderly handover of responsibilities from Chris Lucas, who will remain accountable for financial reporting for 2013.

Commenting on the appointment Antony Jenkins, group chief executive, Barclays said: “I am delighted to welcome Tushar to Barclays. He is an accomplished professional with first class strategic financial management experience built up over 20 years, including the last four as a key leader in JPMorgan Chase’s Corporate and Investment Bank. He will bring a welcome new perspective to what is a pivotal role, and I am very much looking forward to working with him as we transform Barclays into the ‘Go-To’ bank.”