LONDON, April 18 (Reuters) - British bank Barclays Plc said its former finance director Naguib Kheraj is returning to the bank to advise on strategic issues.
Kheraj will rejoin with a mandate to advise Chief Executive Bob Diamond and Finance Director Chris Lucas "on a range of commercial and policy issues", Barclays said on Monday, confirming reports of the appointment.
Barclays said Kheraj will spend about 30 percent of his time in the role, as he will continue to spend most of his time on his charitable activities. He will not join the Barclays board, and the bank declined to say how much he will be paid.
Kheraj left Barclays four years ago after a decade at the bank, including as finance director and top positions in wealth management, asset management and investment banking.
After stepping down as finance director in 2007 he stayed to advise on Barclays' failed bid for ABN Amro, and was paid 4.9 million pounds for eight months in that role.
He subsequently took over as CEO at Cazenove and steered it through its takeover by J.P. Morgan, before a brief spell as CEO of Lazard International. He was linked to other top roles, including at Lloyds Banking Group.
Barclays and its UK rivals face tough strategic and regulatory issues, and Kheraj is expected to concentrate on the former rather than the latter.
He is well respected in the City, and his departure as finance director was partly blamed on the increasing regulatory burden and limited opportunity to take the CEO job.
Diamond is attempting to boost returns and is taking a knife to underperforming areas.
UK proposals last week to make lenders safer could make Barclays' investment banking arm more costly to run and force it to rein in growth plans, however. (Reporting by Steve Slater; Editing by Jon Loades-Carter)