Arthur Martinez, ABN Amro - stays as Chairman (until retirement)

Arthur Martinez has built his career with some of the most iconic names in American retailing and consumer goods. He was elected to the board of PepsiCo in 1999, and also serves on the supervisory boards of Liz Claiborne and International Flavors and Fragrances.

After 12 years at Saks Fifth Avenue in New York, where he became vice-chairman in 1990, he moved on to Sears, Roebuck & Co in 1992, and served as CEO from 1995 to 2002. Eschewing the title of "the axe from Saks", he led the turnaround of the company and took the bold step of eliminating the Sears catalogue, a cherished mainstay of American home shopping for a century.

Mr Martinez, 67, was appointed to the supervisory board at ABN Amro in 2002. In 2006, he was reappointed and at the same time elected chairman. Although a date has not been set for his retirement, he is expected to leave when his current term ends in 2010. Marcus Agius will succeed him as Chairman of Barclays PLC.

He was educated at Notre Dame, New York Polytechnic and Harvard universities. He is the co-author of The Hard Road to the Softer Side: Lessons from the Transformation of Sears, published in 2001.

Marcus Agius, Barclays - becomes Deputy Chairman and then Chairman when Martinez retires

Often cast as the quintessential English gentleman banker - charming, discreet and well-connected, belonging to an older City tradition that is fading away - Marcus Agius joined the Barclays board in 2006 and became chairman on January 1 this year.

His appointment last year sent anxious rumours round the City that Barclays was gearing up for an international merger. Mr Agius's reputation as one of London's leading dealmakers rests on a 35-year career in investment banking: he joined Lazard in 1972, and went on to become chairman of Lazard London in 2001 and deputy chairman of Lazard LLC in 2002.

Mr Agius, 60, is senior non-executive director of the BBC - the first non-executive appointment to the BBC's new board. In 1995 he became a non-executive director at BAA, progressing to the role of chairman in 2002.

A graduate of both Cambridge and Harvard, Mr Agius married Katherine Rothschild in 1971, so joining one of the world's most successful and prestigious banking dynasties.

He is a trustee of the Royal Botanic Gardens, Kew, and chairman of the Kew Foundation. His City gent image is matched with a taste for the pursuits of the country gentleman - he enjoys shooting and gardening.

John Varley, Barclays - remains Group Chief Executive

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