Barclays has appointed Mike Joo, a former senior Bank of America executive, as co-chief executive of its Investment Bank alongside Adeel Khan from February 2027, the UK lender said in an announcement on 17 August. The appointment is subject to regulatory approval.
Joo will join Barclays in early 2027 from Bank of America, where he most recently served as co-head of Global Investment Banking. Khan, who leads Global Markets and has served as co-head of the Investment Bank since 2021, will become joint chief executive of the division on the same date. Both will sit on the Group Executive Committee.
GROUP CEO REBALANCES LEADERSHIP
Group Chief Executive C. S. Venkatakrishnan said the Investment Bank had delivered "a strong performance, growing revenues and returns" since 2023, and that Khan and Joo "will form a strong partnership to deliver an even stronger, more integrated service to our clients".
Joo joined Bank of America in 2006 and held senior leadership roles across Global Corporate and Investment Banking and Global Markets.
The change overrides a 2024 revamp that placed the Investment Bank under four executives.
REGULATORY CLEARANCE PENDING
Under Financial Conduct Authority and Prudential Regulation Authority rules, individuals taking on senior management functions must be approved before they can begin executing their responsibilities.
Venkatakrishnan said the appointments came as Barclays enters "the next stage of our strategy".
Reuters reported on 6 August, citing an internal memo, that Joo would leave Bank of America. He most recently served as co-head of Global Investment Banking at the US firm, according to Barclays' statement.
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