Barclays names Joo as co-CEO of investment bank alongside Khan

Barclays has appointed former Bank of America executive Mike Joo as co-CEO of its investment bank, where he will share leadership with Adeel Khan as the UK lender seeks to strengthen its position against larger US rivals.

Joo will join Barclays in February 2027, subject to regulatory approval, after almost 20 years at Bank of America. He most recently served as co-head of global investment banking and will be based in New York.

Khan, who has led Barclays’ global markets business since 2021, will continue in that role from London. Both Khan and Joo will sit on Barclays' Group Executive Committee.

The move comes as Barclays replaces its four-person leadership structure introduced in 2024. Current investment banking co-heads Taylor Wright and Cathal Deasy will remain in place until Joo joins, while Stephen Dainton recently retired.

The change is part of Barclays Group CEO C.S. Venkatakrishnan’s strategy to improve returns from the investment bank while maintaining the business within the capital limits set out in 2024.

“As we enter the next stage of our strategy and reflecting the ambition we have for our Investment Bank, Adeel and Mike will form a strong partnership to deliver an even stronger, more integrated service to our clients,” Venkatakrishnan said.

Barclays has been working to improve its standing in global investment banking, where it ranked sixth globally for investment banking fees in 2026 in the year to mid-August, according to the Financial Times. Alex Ham was recently appointed global chair of investment banking as Barclays seeks to increase its share of M&A and IPO activity.