Varley

Mr Daniels is one of several bank bosses, including Barclays' John Varley and HSBC's Stephen Green, to step down in recent weeks.

Shortly afterwards, Varley called Sants and told him that Barclays was pulling out of the negotiations.

Varley and Diamond declined bonuses for a second year in 2009, even after second-half profit more than doubled from the year-earlier period.

Isobel Varley, 71, isn't shy of showing her tattoos, which she did at the recent Tattoo Convention show in Berlin.

Since the crisis Mr Varley has shown a deft political touch, with contrite interview performances on British television.

In the letter, Varley also states U. S. President Barack Obama's proposals to crack down on banks have added to uncertainty in the market.

Both he and Mr Varley argue that the change in business mix reflects the firm's opportunism and is partly temporary.

Barclays Chief Executive John Varley and Barclays President Bob Diamond will each get a seat on BlackRock's board.

Diamond, 59, will become deputy CEO next month before Varley steps down at the end of March, the lender said in a statement today.

Mr Varley has long said that the firm's "aspirational" target should be that investment banking generates a third of profits.

'The anticipation has been really high, ' said Rob Varley, executive director of the Space Coast Office of Tourism.

"The scale of the recession is unprecedented but it is more familiar terrain, " says John Varley, the chief executive of Barclays.

Mr. Varley, a noted fly-fisherman, patiently has reeled in each and every investor.