Barclays has moved to address concerns over its potential takeover of ABN Amro, agreeing to move its headquarters to Amsterdam and allowing the Dutch bank to choose the chairman in a move that could strip Marcus Agius, Barclays new chairman, of his title within months.

Barclays, which confirmed that it is in exclusive discussions about a deal with ABN Amro last night, said this afternoon the two banks have agreed to pursue discussions with common objectives regarding its board structure as well as where the new entity will be based and regulated and where its shares will be traded.