Barclays in no rush to appoint CEO, but there is a 'favourite'

Antony Jenkins Barclays

Barclays may not pick its next chief executive until early next year, potentially leaving new Chairman John McFarlane in charge for at least eight months.

Reuters reports that McFarlane fired CEO Antony Jenkins on Wednesday and said he was in no rush to name a successor and will conduct a global search of internal and external candidates.

He told staff the appointment may not take place until the spring, according to comments made at an employee meeting, people familiar with the matter told Reuters.

According to the news agency, Barclays Finance Director Tushar Morzaria is the favorite to succeed Jenkins. If he is chosen McFarlane may want to work alongside Morzaria as executive chairman for a substantial period to speed up the bank's turnaround plan..

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Barclays may not pick new CEO until spring 2016

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