The bank said it would conduct the independent review into its culture and business practices after UK and US regulators fined it £290m for manipulating Libor and Euribor rates.
Salz, a former corporate lawyer and executive chairman at Rothschild, said this is an opportunity for Barclays to “drive a change” and help the bank rebuild trust.
The review will assess business processes, values and standards and offer recommendations for improvement.
The bank has agreed to publish the review’s findings and said its board of directors planned to implement recommendations in full.
Salz said: “Barclays has a real opportunity to use the events of the past weeks to drive a change in its values and practices and I look forward to hearing views on the changes that should be made.
“I very much hope that this review will significantly assist Barclays in rebuilding trust and reaffirming its position as one of our leading institutions.”
Sir Michael Rake, Barclays' deputy chairman, added: “Anthony Salz is the ideal individual to lead this review given his standing and experience. He has the full support of the Barclays Board, and we will ensure that he has whatever resources necessary at his disposal to make it thorough and far-reaching."
"We expect this work to contribute significantly to the broader change that we intend to bring about to the way in which Barclays operates.”
