Barclays
- Paul Compton is stepping down as Barclays’ Chief Operating Officer and CEO of Barclays Execution Services, a source told Business Insider.
- Replacing him is Mark Ashton-Rigby, who is currently chief information officer of the corporate and investment bank
- An internal memo on Monday outlined the shakeup, which also named Stephen Dainton as permanent head of global markets, from his previous spot in that role on an interim basis.
Paul Compton is stepping down as Barclays’ Chief Operating Officer and CEO of Barclays Execution Services, a source told Business Insider.
The move is part of a shake-up announced in a memo to staff on Monday, seen by the insider at the bank.
Mark Ashton-Rigby, who joined Barclays as chief information officer in 2016 from a similar role at JPMorgan, will become Barclays’ new COO and head of execution services.
The UK bank has had a dizzying year of departures amid a seismic management overhaul that has shocked employees. In May, a clutch of senior employees were let go in its latest round of departures. Staff morale at Barclays has taken a beating after the surprise departure in March of investment banking chief Tim Throsby, insiders have told Business Insider.
The internal memo on Monday also said Stephen Dainton’s interim status as head of global markets is now permanent. His rise has been rapid, only joining in 2017 from Credit Suisse. Dainton was head of global equities at Barclays until March, when Throsby’s exit was announced.
Compton will now focus on Barclays Bank Plc, the legal entity that includes larger corporate, wholesale and international banking clients. He was named to that post in March.
"Mr Compton will oversee executive management responsibilities associated with the operation of the legal entity," CEO Jes Staley said in the March statement. "This will include accountability for: the US Intermediate Holding
Company; Barclays Bank Ireland; and the principal governance and regulatory obligations" for Barclays Bank Plc.
A Barclays spokesman declined to comment.
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Source: Business Insider – tkelley@businessinsider.com (Trista Kelley)