The British entity Barclays has communicated a profound reorganization at the top of its investment banking division, which will be jointly led by the new co-CEO Mike Joo, coming from Bank of America, and by Adeel Khan, current head of the Global Markets area of the firm.
The new structure will come into effect in February 2027, provided it obtains the necessary approvals from the relevant supervisors. Both executives will also join the group's executive committee, reinforcing the weight of investment banking in the bank's global strategy.
Joo joined Bank of America in 2006 and, since then, has held various high-responsibility positions in Corporate Banking, Global Investment Banking, and Global Markets. Until now, he served as co-head of investment banking at the American entity.
"Since 2023, our Investment Bank has had solid performance, with growth in revenues and profitability, and driving a more integrated service for our clients. As we enter the next phase of our strategy and reflecting the ambition we have for our Investment Bank, Adeel and Mike will form a strong alliance to provide an even stronger and more integrated service to our clients," indicated Barclays CEO, CS Venkatakrishnan.
The update of the investment banking leadership comes just three years after the previous reorganization, and Joo's arrival represents the incorporation of one of the bankers with the greatest trajectory at Bank of America.
"Mike has built a strong reputation for delivering results and leading in times of change and growth. He is widely recognized as a promoter of organizational culture, with a deep commitment to collaboration, integrity, and talent development," reads an internal document signed by Venkatakrishnan that 'Financial Times' has had access to.