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The chief executive at one of Australia's notorious Big Four banks has been tipped as a contender to replace former Barclays boss Bob Diamond, as the British banking major begins a global search for a new CEO and chairman.

ANZ chief executive Mike Smith has been identified as one of several external candidates likely to be shortlisted to take the top job, New York-based The Wall Street Journal is reporting.

Diamond, as well as Barclays chairman Marcus Agius, resigned from Barclays last week in the wake of the Libor rate-fixing scandal.

Global executive-search firm, Spencer Stuart, is said to have been appointed to find the new chief executive.

According to Fairfax Media, the current head of Barclays' retail and small-business division, Antony Jenkins, is widely seen as the primary internal candidate to succeed Diamond.

However, many believe the Barclays board is leaning towards an external candidate to help push through a cultural change program in the wake of the scandal.

Another name mentioned is that of Bill Winters, the former co-chief executive of JP Morgan's investment banking division.

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