Barclays has appointed former Bank of America executive Mike Joo as co-chief executive of its investment bank, adding a senior industry leader as the British lender works to strengthen revenue and improve returns from the business.
The bank announced on August 17 that Joo will join Barclays in early 2027 and take up the position of co-CEO of Barclays Investment Bank from February 2027, subject to regulatory approval. He will share the role with Adeel Khan, who has been a co-head of the investment bank since 2021 and currently oversees Global Markets.
Both Joo and Khan will serve on Barclays’ Group Executive Committee, the bank’s highest-level decision-making body.
Joo brings almost two decades of experience at Bank of America to Barclays. He joined the U.S. banking group in 2006 and held several senior positions across its corporate and investment banking as well as markets businesses. Most recently, he served as co-head of global investment banking at Bank of America.
His move to Barclays comes as Chief Executive Officer C.S. Venkatakrishnan continues efforts to improve the performance of the investment banking operation. The appointment represents the latest change among Barclays’ senior leadership as the lender seeks to increase revenues while maintaining its competitive position in global investment banking.
Khan will continue in his existing leadership role alongside Joo. His responsibilities include leading Barclays’ Global Markets business, while the two executives will jointly oversee the wider investment bank.
The leadership change is significant for Barclays as it seeks to strengthen its position in a highly competitive sector. The British lender is one of the few European banks with a substantial investment banking presence in the United States, giving it an important position in a market dominated by large American financial institutions.
Joo’s experience at Bank of America could provide Barclays with additional expertise across corporate finance, investment banking and markets. During his time at the U.S. bank, he progressed through a range of leadership positions before becoming co-head of its global investment banking operation.
Barclays has been pursuing a broader strategy aimed at improving the balance and performance of its operations. Under a plan announced in 2024, the bank said it wanted to build a “simpler, better and more balanced” business while maintaining its position as the leading non-U.S. global investment bank.
The strategy reflects Barclays’ intention to remain a major player in international investment banking while improving the returns generated by the division. The investment bank remains an important part of the lender’s global operations, particularly because of its sizeable footprint in the United States.
Venkatakrishnan, known internally as Venkat, has been seeking to improve returns across Barclays while preserving the bank’s strengths in key financial markets. Joo’s appointment adds another experienced executive to the leadership structure as the bank works toward those objectives.
Joo is expected to begin his new role early next year, with his appointment as investment bank co-CEO scheduled for February 2027. The move remains subject to regulatory approval.
The appointment comes as financial institutions continue to adjust their senior leadership teams in response to changing market conditions and pressure to deliver stronger performance. For Barclays, bringing in an executive with extensive experience at Bank of America signals its focus on strengthening the investment bank while continuing with its existing strategic direction.
