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Barclays Hires Ex-Bank of America Executive Moulds as COO

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Barclays Plc hired former Bank of America Corp. executive Jonathan Moulds to help build a firewall around its investment bank and speed up cost cuts in the newly created role of group chief operating officer.

Moulds, a 49-year-old British citizen, starts on Feb. 2 and will report to Chief Executive Officer Antony Jenkins, Barclays said in a statement from London today after Bloomberg News reported the hire. The COO will oversee the lender’s restructuring, which includes separating investment and consumer operations under tougher U.K. bank rules, while accelerating a cost-reduction plan.