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27 Mar 2019 | 14:59

Barclays executive Tim Throsby stands down in wider management shakeup

Barclays said the head of Barclays International and Barclays PLC Tim Throsby had left the company as part of a wider management shakeup.

The bank said it had appointed the head of its UK unit Ashok Vaswani to the newly-created role of global head of consumer banking and payments.

Vaswani would be replaced as UK chief executive by current head of retail lending Matt Hammerstein.

Barclays said its wholesale business would now be managed as three distinct units: global banking, markets and the corporate bank.

Global banking would be headed by Joe McGrath, who was already global head of banking.

Current head of equities Stephen Dainton would act as interim head of markets, while Barclays conducted an internal and external search for a permanent appointee.

Alistair Currie would lead the corporate bank.

'Restructuring is behind us, our major legacy issues are largely dealt with, and our focus now is on running and growing our business,' chief executive Jes Staley said.

'I am making some leadership changes to ensure a much stronger and closer focus on the two respective hemispheres of our diversified group - our consumer and wholesale businesses.'

At 2:59pm: (LON:BARC) Barclays PLC share price was +2.14p at 155.44p

Story provided by StockMarketWire.com
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