Rory Tobin, one of the Barclays executives instrumental in the development of the iShares exchange-traded funds business that was acquired by BlackRock in late 2009, is to leave the UK bank for a second time.

Ashok Vaswani, head of personal and corporate banking at Barclays, said in a statement: "Rory Tobin, head of global investments and solutions at Barclays' wealth and investment management business, has decided to step down from Barclays and return to institutional asset management."