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Barclays International CEO Tim Throsby is out

By Christian Wylonis
Barclays
Image credit: Barclays

Barclays has announced that International CEO Tim Throsby has decided to leave the company as part of wider leadership changes at the banking giant. The bank outlined a broad swathe of management moves, explosive for a company already grappling with activist-shareholder revolt.

In a statement, Group CEO, Jes Staley, said: "Restructuring is behind us, our major legacy issues are largely dealt with, and our focus now is on running. To aid that agenda, I am making some leadership changes to ensure a much stronger and closer focus on the two respective hemispheres of our diversified Group – our Consumer and Wholesale businesses.”

Other management changes include:

  • Ashok Vaswani, currently CEO of Barclays UK (BUK), will take on a newly created role within the Group as Global Head of Consumer Banking & Payments, reporting to Group CEO, Jes Staley
  • Global Banking will comprise Barclays’ Advisory, DCM, and ECM businesses. It will be led by Joe McGrath, the Global Head of Banking.
  • Stephen Dainton, currently Global Head of Equities, will act as interim Global Head of Markets, while Barclays conducts an internal and external search for a permanent appointee to this crucial role.
  • Alistair Currie will lead Barclays’ Corporate Bank as Head of Corporate Banking.

All changes are effective 1 April 2019.