Accelerating delivery of the strategy.
Barclays has promoted the head of its macro markets business to COO of its investment bank, tasked with accelerating the restructuring of the business.
Reuters reports that the bank has appointed Mike Bagguley as COO for the investment bank with immediate effect, reporting to investment bank CEO Tom King, according to a memo sent to staff by King and seen by Reuters.
Barclays is slimming down its investment bank to try to cut costs and improve profitability, and King said Bagguley would aim to accelerate delivery of that strategy.
He will also seek to align infrastructure functions and help coordinate and deliver projects and join the investment bank's executive committee, King said.
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