The control of commercial bank of Barclays Plc has fallen into the hands of President Robert Diamond after Frits Seeger stepped down.

British lender Barclays announced that Robert Diamond would oversee commercial banking and wealth management.

Antony Jenkins, CEO of Barclaycard, will shoulder the responsibility of retail banking in the UK, Europe and emerging markets.

John Varley, CEO of the Barclays said that it was sad that the changes at the lender resulted in ousting of Frits Seeger.

Speaking on the issue Mr. Varley added, "I am extremely grateful for the energy and commitment he has brought to Barclays and for the momentum he created during the last three years." Prior to joining Barclays in 2006, Mr. Seeger was serving the Citigroup Inc.

Last year Mr. Seeger pocketed 2.3 million pounds, including a 700,000-pound salary and a 1.6 million pound incentive award.

Mr. Seeger was the highest-paid director in 2008.