In the investment banking unit, Barclays has beefed up the field with hiring a new person that will be in the chief operating officer position. They have one goal that they will be able to return to the days they had the best glory days. The change that the company has done is that they have changed Mike Bagguley from the position that he was, he was working as the unit head of the macro markets, and he was given a new role. In the new role he will be under the leadership of Tom King who is the chief executive of the company.
The move of position is the latest change that the company has done when it comes to the banking giants, and it confirmed that the former Jp Morgan banker that is Jes Staley would be taking over the position of Antony Jenkins who was the chief executive. A move that they hope will be able to strengthen the investment banking business. Mike Bagguley in the position that he previously held in the macro business he had reshaped it and reduced the risks. In the position, it included things like interest rates, commodities products, and foreign exchange. One of the duties that mike Bugguley will be responsible for in the new position is that in the investment bank he will be co-coordinating significant projects.
The reason why Barclays was hiring new people is that they needed to see a change in the survives that they were offering and they knew the best way was to change management. The reason why Mike Bagguley was hired is that he was in the best position to help the company in the cutting down of the cost and improve their profitability. The other thing that he would be responsible for is aligning the infrastructure functions, and for the project, he will assist in the coordinating them and deliver on the plans. The first position that he held was in London, and over the years he has held other roles in places like New York, Tokyo, and Johannesburg. Over the years what it was expected of Mike he has been able to deliver just that and more.