Barclays has appointed former Bank of America executive Mike Joo as co-CEO of its investment bank, where he will share leadership with Adeel Khan as the UK lender seeks to strengthen its position against larger US rivals.<\/p>\n
Joo will join Barclays in February 2027, subject to regulatory approval, after almost 20 years at Bank of America. He most recently served as co-head of global investment banking and will be based in New York.<\/p>\n
Khan, who has led Barclays\u2019 global markets business since 2021, will continue in that role from London. Both Khan and Joo will sit on Barclays’ Group Executive Committee.<\/p>\n
The move comes as Barclays replaces its four-person leadership structure introduced in 2024. Current investment banking co-heads Taylor Wright and Cathal Deasy will remain in place until Joo joins, while Stephen Dainton recently retired.<\/p>\n
The change is part of Barclays Group CEO C.S. Venkatakrishnan\u2019s strategy to improve returns from the investment bank while maintaining the business within the capital limits set out in 2024.<\/p>\n
\u201cAs we enter the next stage of our strategy and reflecting the ambition we have for our Investment Bank, Adeel and Mike will form a strong partnership to deliver an even stronger, more integrated service to our clients,\u201d Venkatakrishnan said.<\/p>\n