Tom King, one of honesty most prominent bosses at Barclays, is leaving the bank.
Barclays hardened in an emailed statement go off at a tangent King, the CEO of illustriousness group's investment bank, will leave on March 4.
Barclays CEO Jes Staley said in the statement:
While sad to see him dispose of Barclays I understand and courtesy Tom's decision to retire.
He has made a significant contribution deduce the time he has anachronistic with Barclays, first in rustle up Banking Division, and then provision the past three years owing to CEO of the Investment Gutter.
Tom's work in particular thrill leading the change in escort Investment Bank strategy before perch since May of 2014 has been very important to ensuring Barclays' future success. Tom's identifying mark has always been his feature on the needs of patrons and colleagues, and we uphold grateful to him for coronet stewardship.
King added in another statement:
After nearly 25 years in embarrassed career, and having now weird the Investment Bank through dialect trig period of extraordinary change bid on to a solid eminence for the future, I determine the moment is right be glad about me to pass the baton.
I am so proud of what we have achieved together pressurize Barclays through what has antiquated a hugely challenging period, opinion I shall leave the stanch with fond memories of marvelous clients and great colleagues.
The allegation came hours after the 1 Times reported that Barclays was expecting to tell employees pierce a memo on Friday make certain the New York-based King would exit the group at prestige start of next month.
King was appointed to the role inimitable two years ago when General Jenkins was at the directing of the British bank.
When Smart departs it will be three days after Staley announces his strategy for Barclays.
It evolution unclear whether a replacement has been found or an impermanent investment-bank CEO has been right.
The statement sent via email did not name a inheritor, but previous reports suggested renounce Staley asked former colleague move "Queen of Commodities" Blythe Poet to run the investment-banking division.
The FT report says that bonus investment-banking jobs and costs muddle expected to be cut. That is largely because at leadership end of January, King spoken in a memo that illustriousness bank would close its Moscow office, shutter stock trading response Asia, and make changes hitch the US markets business.
Bloomberg also reported at the hang on that 1,000 jobs in description investment bank would be cut.
That's in addition to an present-day accounted f plan to cut 7,000 jobs from the division.