Barclays International CEO Tim Throsby is out
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.