He will join the Executive Committee of Barclays and report directly to the Group Chief Executive, Jes Staley.
Staley, who joined Barclays in December, worked for over 30 years at J.P. Morgan - initially training as a commercial banker, and later advancing to the leadership of major businesses involving Equities, Private Banking and Asset Management, and ultimately heading the company’s Global Investment Bank.
Mr Compton will be responsible for Operations & Technology, Structural Reform, Cost Transformation, Major Project Delivery, Administration, Corporate Real Estate Services, and Sourcing. He will chair the Group Operating Committee.
Following this appointment, Barclays’ current COO Jonathan Moulds will leave the business to pursue other opportunities.
Jes Staley, Group Chief Executive, said:
“For nearly twenty years Mr Compton has served in a variety of senior operating roles. His huge directly relevant experience will prove invaluable as we continue our strategic transformation and manage the required changes under Structural Reform.
“I am very grateful to Jonathan for all that he has contributed to the firm in his time with Barclays and in particular for the enormous effort he has given in leading our structural reform programme to date. While I would have liked him to have stayed with the company in another capacity I understand his desire to move on and find a new challenge.”
Commenting on his appointment, Mr Compton said:
“I’m thrilled to be joining Barclays and its talented team. Over the last few years, Barclays has taken a number of steps to enhance its operating structures and become more efficient. The result has been the strong core businesses across retail and wholesale banking in the Group today. I’m looking forward to working with Jes and the rest of the management team to continue the progress of the business and deliver the performance Barclays’ shareholders expect.”
