Oliver Stocken of Barclays Bank has finally been given the green light to retire following the appointment of David Allvey as finance director. Stocken has twice deferred his retirement but will now leave at the end of September. Allvey is chief of corporate operations at Zurich Financial Services and was finance director at BAT Industries for nine years up until 1998. He will pick up a basic salary of £475,000, with a guaranteed bonus of £238,000 in his first year. Barclays is still searching for a chief executive.