Barclays has appointed Mike Bagguley, the former head of macro products, to be the bank Chief Operating Officer (COO). He will be replacing Justin Bull who left the investment firm in April. His new role will take an immediate effect. He will be reporting to Tom King who is the bank chief. Bagguley will be responsible for accelerating the delivery of the set strategies that were launched last year.
The plan saw the organization transferring £90bn assets into the non-core unit. Barclays streamlined its investment operations and implemented a three-year strategy to axe 7,000 jobs that are a quarter of the headcount at the bank. Mr. Bagguley took over the macro product unit after the creation of the division. The department consolidates trading and distribution across credit, rates, commodities, and foreign exchange to streamline bank operations.
According to King, the appointment of Mike Bagguley will enable the firm to build on significant progress. He is confident that Bagguley will move the investment bank to high heights and clients will enjoy the business potential. Rob Bogucki, Nat Tyce, and Kashif Zafar will take over the macro business due to their experience and competence in the macro field.
About Mike Bagguley
Mike Bagguley works for Barclays PLC as the since November 2015. He serves as the global head and managing director of US Dollar Derivatives Trading at Barclays Capital. Bagguley led the Commodities and Foreign Exchange unit in Barclays PLC since 2013. He was in charge of all strategic positioning and risk management at the investment entity when it was franchising globally.
Since 2001, Mike has held senior roles in Barclays PLC. He was the head of FX Cash Trading and Interest Rate Swaps. Mr. Bagguley held executive positions in leading companies as director, senior vice president, and head of groups like Asian Swap Trading at Merrill Lynch
He has been working in LCH. Clearnet Group Ltd as the shareholder representative director since 2011. Mr. Bagguley is a member of the Institute of Actuaries and a Director of the Association for Financial Markets Europe. He joined the University of Warwick for a degree in science and mathematics according to the Crunchbase of Mike Bagguley.