Barclays’s Jerry Donini to Step Down as COO of Investment Bank

Barclays Plc’s (BARC) Jerry Donini will step down, less than a year after being named chief operating officer of its corporate and investment banking division.

Donini, 49, will be replaced by Justin Bull from Sept. 1, according to an internal memo seen by Bloomberg News.

He took up the job in October when then-investment banking chief Rich Ricci combined some of the lender’s fixed income and equities teams. Ricci announced his departure in April, becoming one of the last of former Chief Executive Officer Robert Diamond’s management team to leave after the lender was fined for manipulating the London interbank offered rate.

Donini joined the London-based bank when Barclays bought Lehman Brothers Holdings Inc.’s North American operations in 2008. Before working at Lehman, Donini was a senior index options trader at Deutsche Bank AG.

Bull, who joined Barclays in 1997, will report to investment bank chiefs Eric Bommensath and Tom King as well as Shaygan Kheradpir, chief operations and technology officer, according to the memo.

Officials at the bank declined to comment. The Wall Street Journal reported the move earlier today.

-- Editors: Edward Evans, Keith Campbell

To contact the reporter on this story: Ambereen Choudhury in London at achoudhury@bloomberg.net Howard Mustoe in London at hmustoe@bloomberg.net.

To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net

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