|
Moulds, who will take up his role at the start
of February, will report to Chief Executive Antony Jenkins,
tasked with accelerating the bank's strategic plan, dubbed
'Transform', and overseeing the implementation of the
ring-fenced bank in the UK.
Jenkins unveiled 'Transform' in February 2013, after taking the
top job in 2012 in the wake of a series of scandals including
the rigging of benchmark interest rates, in an attempt to
convince investors and the public that the bank can put ethics
above earnings.
He has since cut thousands of jobs, shrunk its investment bank
and set up a 'bad bank' as part of his turnaround plan.
Britain wants banks such as Barclays to ring fence their retail
units from their wholesale operations, including creating a
separate board for their retail divisions that would be
independent of the parent group.
"There are multiple major change programs in flight across the
Group, designed to achieve our ambitious goals, and which will
in turn help to drive the sustainable returns our shareholders
deserve," Jenkins said in a statement.
"A Group COO will give us additional leadership bandwidth and
capability to make that happen."
Moulds, 49, spent more than 15 years at Bank of America Merrill
Lynch, most recently as Head of its European business and CEO of
Merrill Lynch International, before retiring in 2012.
Earlier in January, Eric Bommensath, a 17-year veteran of the
bank who was tasked with leading the bad bank business, said he
would leave at the end of the month.
(Reporting by Anjuli Davies, editing by Louise Heavens)
[© 2014 Thomson Reuters. All rights
reserved.] Copyright 2014 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |
|
