One of England’s legal profession heavyweights -- Anthony Salz, the former managing partner of magic circle firm Freshfields Bruckhaus Deringer -- is set to take the lead role in an inquiry launched by Barclays to examine the Libor rate-rigging scandal.

Mr Salz -- who is currently a vice-chairman at investment bank Rothschild – will appoint an external law firm to assist with the probe, according to a report in Legal Week newspaper. The investigation into the debacle – which resulted in massive fines on both sides of the Atlantic for the bank and triggered its controversial chief executive to fall on his sword -- will also see a new code of conduct implemented at the bank.

Bank of England advice

Mr Salz retired from Freshfields in 2006 after 30 years at the firm. He also took on a part-time role at the BBC in 2004. He became acting chairman of the BBC following the resignation of Michael Grade in 2006.
Freshfields is now advising the Bank of England regarding the Libor scandal, with partner Ian Taylor leading the firm’s team.