Barclays reshuffles top team after Staley exit

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FILE PHOTO: Workers are seen at Barclays Bank offices in the Canary Wharf financial district in London, Britain, November 17, 2017. Businesshala/Toby Melville/File photo
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LONDON (Businesshala) – Barclays has appointed Paul Compton as the head of its investment banking business, the British bank said on Tuesday as part of a broader reshuffle in the wake of chief executive Jess Staley’s departure.

Compton was Barclays’ global head of banking and co-head of the investment bank with CS Venkatakrishnan before stepping down as CEO following Staley’s shock resignation last week.

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Staley left the bank after a dispute with British financial regulators over how he described his relationship with convicted sex offender Jeffrey Epstein.

His departure, CEO Venkatakrishnan, better known as Venkat, said he would change the leadership of Barclays.

These include replacing Compton as the sole head of the investment bank.

Compton, a former JPMorgan banker like Staley and Venkat, was Staley’s right-hand man in most of Barclays’ restructuring during his tenure, focused on streamlining its back-office operations and cutting costs.

Venkat names Alistair Curry as head of Barclays’ consumer banking and payments business, Ashok Vaswani takes on a new role as chief digital strategy officer.

Reporting by Lawrence White in London and Sinchita Mitra and Pushkala Aripaka in Bengaluru; Editing by Aditya Soni and Ian Withers

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