Barclays chair Agius resigns

Barclays bank chairman Marcus Agius has confirmed his resignation, admitting the "the buck stops with me" for the firm's interest rate fixing scandal.

Agius will remain in his post until an orderly succession is assured.Sir Michael Rake, BT chairman and senior independent director at Barclays, has been appointed deputy chairman, the BBC reports. Meanwhile, Sir John Sunderland, a non-executive director of Barclays, will begin the search for a new chairman. In his resignation letter, Agius said: "It has been my privilege to serve as Barclays chairman for the past six years. "This has been a period of unprecedented stress and turmoil for the banking industry in particular and for the wider world economy in general. "But last week...