Barclays reshuffles top team after Staley exit By Reuters


© Reuters. FILE PHOTO: The Barclays brand is seen in entrance of displayed inventory graph on this illustration taken June 21, 2017. REUTERS/Dado Ruvic/Illustration/File Photograph


By Lawrence White

LONDON (Reuters) -Barclays has appointed Paul Compton as head of its funding banking enterprise, the British financial institution mentioned on Tuesday, as a part of a wider reshuffle within the wake of Chief Government Jes Staley’s departure.

Compton was Barclays (LON:)’ international head of banking and had been co-heading the funding financial institution together with CS Venkatakrishnan earlier than the latter’s transfer to CEO following Staley’s shock resignation final week.

Staley left the financial institution after a dispute with British monetary regulators over how he described his ties with convicted intercourse offender Jeffrey Epstein.

Within the wake of his departure incoming CEO Venkatakrishnan, generally known as Venkat, mentioned he would make modifications to Barclays’ management.

These embrace elevating Compton as sole head of the funding financial institution.

A fellow former JPMorgan (NYSE:) banker like Staley and Venkat, Compton was Staley’s right-hand man in a lot of the restructuring of Barclays that he undertook throughout his tenure, targeted on streamlining its back-office operations and slicing prices.

Venkat additionally named Alistair Currie as head of Barclays’ shopper banking and funds enterprise, with Ashok Vaswani transferring into a brand new position as chief digital technique officer.

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