Jes Staley, the new Barclays boss, has further enhanced his power base with another recruitment from JPMorgan Chase, his former employer.
Paul Compton, who worked with Mr Staley at the Wall Street bank, will join Barclays in May as chief operating officer. He will replace Jonathan Moulds, who is leaving a year after being poached from Bank of America Merrill Lynch.
The latest shake-up follows the hiring of CS “Venkat” Venkatakrishnan as chief risk officer, from JP Morgan.
The departure of Mr Moulds will surprise some in the industry. The Briton was in charge of organising Barclays’ ringfencing plans. However, the task of separating the investment bank from the retail operation has been mired with problems. Speculation that Barclays would challenge the rules with a