Banking giant Barclays has named Scottish businessman Crawford Gillies as its new chairman of UK operations to replace Sir Ian Cheshire.

Mr Gillies, the former chairman of Scottish Enterprise and the Confederation of British Industry, will take over on January 1. Mr Cheshire will stay on the board until the annual general meeting in May to ensure a smooth transition.

Mr Gillies is currently chairman of Edrington, the whisky company whose brands include Famous Grouse and Macallan. He also recently stood down from the board of energy group SSE, where he was senior independent director up until the end of September.

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Barclays said Mr Cheshire is standing down "with regret" as he is "unable to accommodate the increased time commitment" to see through the group's programme of positioning itself to support customers against the backdrop of an economy recovering from the pandemic in a low interest rate environment.

Mr Gillies' current role as Barclays' senior independent director and chairman of the remuneration committee will be filled by Brian Gilvary, who will also join the risk and nominations committees from January 1.