Barclays has named former BofA Merrill Lynch executive Jonathan Moulds to the newly created role of group chief operating officer, effective 2 February 2015.
Moulds will oversee the bank’s restructuring plans which include separating investment and retail operations under UK bank rules.
Also, Moulds will also be responsible for accelerating delivery of the group’s strategic plan, Transform, which will see thousands of job cuts.
He will also manage Barclays’ plan to create a separately capitalised holding company for its US activities.
Moulds will join Barclays’ executive committee and will report directly to the group CEO Antony Jenkins. He will also prepare the bank for new resolution and recovery rules.
Moulds will set up and chair a group operating committee to check whether the bank’s strategy is being executed in an aligned and efficient way. He will also take charge of the bank’s strategy and corporate development team.
Prior to joining Barclays, Moulds held several roles at Bank of America Merrill Lynch for 15 years including CEO of Merrill Lynch International and head of BoAML Europe.
"My decision to create a group COO role at this time is specifically intended to ensure we continue to deliver on our strategy, but more importantly to accelerate execution where possible," Jenkins said.
Moulds said: "This is a period of profound change for Barclays as the group builds momentum in the implementation of its strategy and deals with external forces including structural reform."