Barclays just poached a new COO from JP Morgan

Jes Staley Interview Pic

Barclays has poached Paul Compton from JP Morgan Chase to act as its new group chief operating officer.

The banking giant said Compton, currently chief administrative officer at JP Morgan, will start the newly-configured role in May.

In a statement today it added Compton will be responsible for operations and technology, structural reform, cost transformation, major project delivery, administration, corporate real estate services and sourcing. He'll also chair the group operating committee.

“For nearly 20 years Compton has served in a variety of senior operating roles. His huge directly relevant experience will prove invaluable as we continue our strategic transformation and manage the required changes under structural reform,” said Jes Staley, the bank's chief executive.

“I’m thrilled to be joining Barclays and its talented team," added Compton.

The company's current group chief operating officer Jonathan Moulds will leave the business to "pursue other opportunities".

"While I would have liked him to have stayed with the company in another capacity I understand his desire to move on and find a new challenge,” said Staley.

The bank was one of many lenders to be pummelled by a massive selloff today. Shares finished 3.8 per cent lower, at 157.6p, one day after they were suspended during massive volatility in global markets.The embedded content could not be displayed. Please go to the article to view this content.

Full story: Barclays just poached a new COO from JP Morgan: City A.M.

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