Published: 2019-11-12 16:13:39 BdST
Barber will step down after a 14 year tenure that was marked by the sale of the title to Japan's Nikkei in 2015 and a successful push into online subscription that has protected the group during a highly turbulent time for the industry.
The FT passed the milestone of one million paying readers in 2019, with digital subscribers accounting for more than 75% of total circulation.
Khalaf has been the deputy editor since 2016 and managed the paper's more than 100 foreign correspondents as well as editorial projects.
Tsuneo Kita, chairman of Nikkei, said he was delighted that Khalaf had agreed to take on the role of editor.
"I have full confidence that she will continue the FT's mission to deliver quality journalism without fear and without favour, inspire and lead a team of the most talented journalists and pursue the FT’s new agenda covering business, finance, economics and world affairs," he said.