Barclays BARC.L Chief Executive Jes Staley has reshuffled his senior lieutenants as he looks to promote closer cooperation between the bank’s corporate, banking and markets operations amid a tough environment for lenders worldwide.
Staley named longstanding deputy Paul Compton as global head of banking and CS Venkatakrishnan, currently group chief risk officer, as global head of markets, according to an internal memo seen by Reuters on Wednesday.
The two, who like Staley were previously employed by JPMorgan JPM.N, will chair a new corporate and investment bank management team aimed at bringing those business units closer together, Staley said.
Barclays’ current global head of markets, Stephen Dainton, stepped down to become deputy head, the memo said, while global banking head Joe McGrath becomes chairman of investment banking.
A spokesman for Barclays confirmed the contents of the memo.
The bank separately announced that it has hired Taalib Shaah as group risk officer.
The bank’s chief compliance officer, Laura Padovani, will now also report directly to Staley rather than through the chief risk office, the internal memo said.