Barclays has appointed C.S. Venkatakrishnan as Chief Risk Officer. Venkatakrishnan joins Barclays from JP Morgan Chase where he has been the Head of Model Risk and Development since 2012 and Head of Operational Risk since September 2013.
He will join the Executive Committee of Barclays and report directly to the Group Chief Executive Jes Staley.
In this role, Venkatakrishnan will be responsible for helping to define, set, and manage the risk profile of Barclays, in conjunction with the CEO, Executive Committee, and the Board. It is expected that Venkatakrishnan will join the bank in May of 2016.
Commenting on the appointment, Jes Staley, Group Chief Executive, said: “Mr Venkatakrishnan has a long and well-established track record of helping to prudently define and manage risk appetite in large complex financial institutions like ours. He has extensive experience in the development of regulatory capital models and with stress testing. His presence will further strengthen our core management team.”
Commenting on his appointment, Venkatakrishnan said: “It’s a privilege for me to join Barclays, an institution with a rich history of more than 300 years. For me, Barclays, with its strong core global businesses in retail and wholesale banking, represents an exciting professional opportunity. I am pleased to join Jes and his management team as they work to deliver the performance Barclays’ shareholders expect.”
Once Venkatakrishnan assumes his new role, current Chief Risk Officer Robert Le Blanc will become Vice Chair of Risk and Strategy, reporting to Mr. Staley, who noted: “I am grateful to Robert for his continuing dedication to Barclays. Robert has served as Chief Risk Officer for 12 years, helping to navigate Barclays through unique challenges, including the 2008 crisis. I look forward to continuing to have his wise counsel in his new role.”