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Barclays Chief Operating Officer; Mike Bagguley

Businesses undergo various overhauls, and as part of restructuring its business, Barclays bank promoted Mike Bagguley to be the chief operating officer of its investment bank. He previously worked as the head of macro markets business in Barclays bank. The new role comes with a lot of responsibility, and more so, he will be required to now report to the investment bank chief. The restructuring had to happen so that the bank could reduce costs of operation and ensure more profits within the business. As part of the strategy, Barclays Bank transferred their assets weighted according to risk into non-core assets. The bank also sought out to streamline its operations by reducing 7000 jobs in a period of 3 years. Mike Bagguley’s primary aim is to ensure this strategy is followed through and achieved. Hence the business can deliver services to their clients as expected.

Mike Bagguley will be required to be actively involved in the improvement of infrastructure within the Barclays bank. He will also assist in the coordination and delivery of the various projects within set timelines. He will be a member of the Investment bank’s executive committee.

When Mike Bagguley was in charge of macro markets in previous years, he ensured the macro business had been reshaped, which involved, foreign exchange, product commodities, and interest rates. This clearly shows that he is effective in the tasks he is given to spearhead within the bank. Barclays, among other banks, has resulted in a reduction of trading activities and concentrated on other areas with fewer regulations such as advisories and equities.

Crunchbase gives us a sneak peek on information about Mike Baguley’s education, as stated in his profile. He went to the University of Warwick where he attained a Bachelor of Science in Mathematics, in 1988. According to the same site, he is also known as Michael Roy Andrew Baguley. He is based in London. In the year 2001, he joined Barclays in London on the trading desk. Mike Bagguley is skilled at his work, and it’s evident that he will bring about the much-anticipated change within Barclays business.

http://investor.marketaxess.com/news-releases/news-release-details/barclays-names-mike-bagguley-chief-operating-officer-investment