Barclays Names Taylor Head of European Investment Banking

Barclays Plc (BARC), Britain’s second- largest bank, named Richard Taylor head of its investment banking division for Europe, the Middle East and Africa, replacing Tom King as the bank overhauls management of the unit.

Taylor will also keep his job as head of investment banking for the U.K. and Ireland, London-based Barclays said in an internal memorandum seen by Bloomberg News. A spokesman for the bank declined to comment.

The lender is “maintaining a strong regional team that is aligned with our global business,” Skip McGee, Barclays’s corporate and investment banking chief executive officer in the Americas and King, deputy head of the investment banking division said in the memo. King became deputy head of investment banking in October.

Barclays CEO Antony Jenkins, who succeeded Robert Diamond in August following the Libor-rigging scandal at its investment bank, is reviewing which parts of the company will be sold or shrunk as the bank seeks to boost profitability and overhaul its culture. The company combined parts of its fixed income and equities operations in October and promoted McGee.

As part of the announcement, Barclays said Mark Warham will become sole head of mergers in EMEA, while Matthew Ponsonby will be chief operating officer of investment banking in the region.

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