It is official, and with the announcement made by Barclays PLC all doubts surrounding a new successor as the CEO of the bank has been clarified. According to the latest announcement, Barclays very own Mr. Bob Diamond will taking over the challenge of heading the bank as the CEO, while Mr. John Varley will be stepping down from his post.

Though, the official date for Mr. Diamond to take over the new role has been stated to be the 1st of January. It needs to be pointed out that Mr. Varley has already delegated all his responsibilities to the soon to be CEO.

The official date for Mr. Varley's stepping down has been stated to be the 31st of December. Though, Mr. Varley will continue to be employed as a senior adviser of the bank till the end of September next year.

Talking about the exciting development, the Chairman of Barclays, Marcus Agius said that the transition of roles lasted for a period spanning three-months and had happened in a very controlled and smooth manner. Mr. Agius further expressed that him, John and the board were in agreement that this was the right time to complete the transition.

Apart from Mr. Diamond such thrilling developments are being seen throughout UK banks, with Stuart Gulliver also likely to replace Michael Geoghegan as the boss of HSBC.