Barclays Overhauls Investment Bank Leadership Ahead of US Push
Barclays is reshuffling the leadership of its investment bank for the second time in under three years, naming Mike Joo from Bank of America as co-chief executive of investment banking and promoting Adeel Khan to co-CEO of global markets; Joo will lead from New York and join Barclays’ executive committee, ending the four-co-head structure introduced in 2024. The bank, currently sixth globally for investment banking fees with about $2.7 billion this year, is pushing to close the gap with top Wall Street rivals by focusing on fee-based advisory work and trimming its debt-capital markets franchise. The reshuffle casts doubt on the futures of other co-heads Taylor Wright and Cathal Deasy, who will remain until Joo’s February start, while Stephen Dainton retires. Barclays has also hired Alex Ham to bolster M&A and IPO activity.