Barclays Capital, the investment banking arm of the UK bank which is currently in €64.7bn ($89.3bn) merger talks with Dutch rival ABN Amro, has named a new chief executive in Germany as part of a senior reshuffle of its management team in the country.

Omar Selim, head of Barclays Capital's German management board, has been named as the division's new chief executive replacing Rainer Stephan who has been appointed as chairman of Barclays Capital in Germany.