Barclays' investment bank chief Tom King could be set to retire next month

Caitlin Morrison and Lauren Fedor
A man looks out of a window at the Barcl
King reportedly tried to resign last year, over differences with previous boss Antony Jenkins (Source: Getty)

Tom King, head of Barclays' investment bank, is reportedly planning to retire as early as next month.

King, who is based in New York and has worked for Barclays since 2009, has long been expected to step down from his post at the top of the bank's investment banking business, but multiple media reports out today indicate that his departure could come as soon as next month.

He was said to be close to retiring last year, due to differences with then-Barclays chief executive Antony Jenkins. However, King was persuaded to stay and Jenkins was sacked by the bank's board soon after.

News of King's departure, which was first reported by Bloomberg, comes just weeks after Barclays confirmed that it will cut hundreds of jobs at its investment bank.

In a memo to staff, King said the bank would close its Moscow and Brazil offices, as part of plans to re-focus on its businesses in the UK and the US.

There are likely to be around 1,000 jobs cut, largely in the Asia Pacific region. The job losses are part of the wider restructuring being led by the group's new chief executive Jes Staley. The bank will maintain its presence in China, Hong Kong, India, Japan, Singapore, Spain, Italy and Mexico.

King's departure would also follow hot on the heels of Jonathan Moulds, who left his role as chief operating officer just over one year after taking the job. Moulds will be replaced by Paul Compton, who like Staley, comes from JP Morgan.

Barclays declined to comment.

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