British bank Barclays has ousted chief executive Antony Jenkins after three years in the post, saying on Wednesday it had decided new blood would help accelerate strategic change and boost shareholder returns.

Shares in the bank were up 3.2% at 260.2 pence by 0845 GMT, having dropped the previous session to a two-month low. The surprise ouster comes just three months after John McFarlane took over as chairman and signalled his intention to speed up its turnaround plan. McFarlane will assume executive duties until a permanent successor is appointed.

 

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