Barclays Group has appointed a new chair of its remuneration committee. This appointment will replace the current boss Sir John Sunderland. Barclays investors have recently complained about the banks decision to increase it's bonus scheme by 10% to a grand total of £2.4bn despite a fall in profits of 10%.

This appointment should defuse an ongoing battle with shareholders. Crawford Gillies is currently a non executive director of Standard life but will become a Barclays non-exec in the upcoming weeks. Crawford takes over this position from former group chairman Sir David Walker. Crawford was previously managing director of Bain & Company. He was also employed as chairman of  law firm Hammonds and a chair of the Confederation of British Industry. This appointment will hopefully persuade investors and shareholders that it is committed to reducing pay levels in the future.