Renowned UK bank Barclays Plc has recently announced that its Macro Markets head Mike Bagguley is being promoted to the position of Chief Operating Officer for the firm. Barclays is a highly acclaimed investment bank and Mike Bagguley will now be responsible for overseeing a massive restructuring of the company’s business operations. This move is part of an overall push that Barclays is making to improve its profitability by cutting down on costs. Mike Bagguley is the individual that the company is now turning to in order to put this plan into motion. He will also work towards a goal of aligning the bank’s infrastructure as well as coordinating on numerous projects. As part of this move, Mike Bagguley is now the newest member of the Barclays executive team.
Mike Bagguley is a graduate of Warwick University where he earned his Bachelor of Science in Mathematics back in 1988. Since then, he has held numerous important positions in the financial industry that include serving as the VP of Bankers Trust. He held that position from 1993 until 2001. Since then he has been involved with Barclays in a number of different roles that have lead up to his current appointment as COO. Crunchbase is an outstanding site to find out more about Mike’s career as well as what he has going on regarding his work.
Mike’s previous success in helping the reshape Barclays macro business is a major reason that he has been promoted to the highly respected position of COO. Barclays is one of a handful of major banks that are now focussing more prominently on areas such as advisory services and equities during this time when areas such as trading have been affected greatly by the presence of regulations. Mike will now report to Tom King, the Investment Bank Chief at Barclays, in this new Chief Operating Officer role which has taken effect immediately upon its announcement. This overall of these areas of Barclays business is something that the investment banking firm has been actively pursuing since 2014. This program has seen a streamlining of the firm’s primary banking operations related to investment. As things stand now, this restructuring promises to yield the desired results.