Barclays axes CEO Antony Jenkins

Barclays has fired its chief executive Antony Jenkins.

Deputy chairman Sir Michael Rake said new leadership was required to accelerate the pace of change at the lender.

Sir Michael said: "I reflected long and hard on the issue of group leadership and discussed this with each of the non-executive directors. Notwithstanding Antony's significant achievements, it became clear to all of us that a new set of skills were required for the period ahead."

The bank said it will appoint chairman John McFarlane as executive chairman from July 17 until a successor is found.

Read more on AOL Money:
Barclays cuts 6,500 cashiers as it switches to digital

Barclays introduces digital experts

The Fixer: Barclays compensation claim

1 / 10

Once you have opened a current account with a bank or other lender, you will get a steady flow of emails, letters (and maybe phone calls) offering you a savings account, loan, mortgage, ISA etc to go with it. But while it may be tempting to have everything in one place, it's better to do the legwork and shop around for the best financial products. You can compare interest rates on loans and savings accounts in the 'best buy' tables in the newspapers, or look online on comparison sites. Remember you can still easily transfer your money between accounts, even if they are not with the same financial institution.