Barclays’ investment banking chief to retire
(19 February 2016 – United Kingdom) Barclays’ investment banking chief Tom King is expected to retire from the bank next month.
King joined Barclays in late 2009 and was promoted to his current position in mid-2014.
John McFarlane has been appointed as executive chairman pending the appointment of a new chief executive.
King’s departure follows that the bank’s chief operating officer, Jonathan Moulds who is leaving after just over years.
Moulds previously worked at US investment bank, Bank of America Merrill Lynch. He will be replaced by Paul Compton, a former JP Morgan banker.
The bank recently announced 1,200 investment banking job cuts as part of a plan to reduce its cash equities operations in Russia, Brazil and a series of Asian countries.
The bank’s chief executive, Jes Stanley has been quoted as saying it is part of a wider strategy to focus on core markets in the Asian region, including China, India, Singapore, Hong Kong and Japan.
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