Barclays raids JP Morgan for new boss of Corporate and Investment Bank

Hayley Kirton
Follow Hayley
Barclays Bank Fined Over Libor Investigations
Throsby believes it is a "tremendous time" to be signing on with Barclays (Source: Getty)

Barclays has turned to fellow banking giant JP Morgan for the new boss of its Corporate and Investment Bank, it was announced today.

Tim Throsby, currently global head of equities at JP Morgan, is expected to join Barclays as president of Barclays Corporate & International and chief executive of Barclays Corporate and Investment Bank in January next year.

Throsby, who can also list stints at Credit Suisse and Goldman Sachs on his CV, will report directly to group chief executive Jes Staley.

Read more: Banks lead the FTSE 100, with some lenders setting new monthly highs

"This is a tremendous time to be joining Barclays, and it will be a privilege to lead Barclays Corporate & International," said Throsby. "With a leading corporate and investment bank and world class payments business at its core, the business is well-positioned to continue providing outstanding service to our customers and clients, and contribute to the future growth of the Barclays Group.

"I'm looking forward to working with the team in Barclays Corporate & International, and with Jes and the rest of my executive colleagues, as we look to deliver the returns shareholders deserve."

Read more: You won't need A-Levels for these City apprenticeships

Staley added:

Tim is an exceptionally talented and experienced professional, qualities he will bring to leading Barclays Corporate & International, and to our Corporate and Investment Bank, as we continue to pursue our strategy, complete our structural changes, and carry on providing world-class service to our customers and clients.

Shares in Barclays are currently trading down 1.1 per cent at 172.35p.

Barclays Barclays | mobile image

Read more: CMA proposals to hit bank profits

This is not the first time Barclays has taken a look at JP Morgan's staff list for a new hire. Staley himself clocked up over three decades at JP Morgan, while group head of compliance Michael Roemer and group finance director Tushar Morzaria are both also alumni of the US banking behemoth.

What you need to know

  1. Peter Stringfellow in his own words: The king of London's nightlife on Theresa May and making money
  2. The shareholders are revolting: Bosses really have received a bloody nose over bonuses this year
  3. Lloyd's of Hong Kong? Insurance boss threatens to quit the City

Related articles