Barclays has appointed JP Morgan’s Paul Compton as group chief operating officer to replace the departing Jonathan Moulds.
Barclays has appointed JP Morgan’s Paul Compton as chief operating officer to replace the departing Jonathan Moulds.
Compton, who is currently chief administrative officer at JP Morgan, will take over from Moulds in May.
Compton will report to Jes Staley, the bank’s group chief executive.
Staley said: “For nearly 20 years Mr 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.”
He added: “I am very grateful to Jonathan for all that he has contributed to the firm in his time with Barclays and in particular for the enormous effort he has given in leading our structural reform programme to date.
“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.”
Moulds will leave 13 months after joining Bank of America where he was head of Europe and chief executive of Merrill Lynch International.
When he joined he was charged with separating the retail part of Barclays from the investment bank.
Regarding his next move Barclays said he will “pursue other opportunities”.
Compton will be in charge of operations and technology, structural reform, cost transformation, major project delivery, administration, corporate real estate services and sourcing.
He said: “I’m thrilled to be joining Barclays and its talented team. Over the last few years, Barclays has taken a number of steps to enhance its operating structures and become more efficient.
“The result has been the strong core businesses across retail and wholesale banking in the group today.
“I’m looking forward to working with Jes and the rest of the management team to continue the progress of the business and deliver the performance Barclays’ shareholders expect.”
