Barclays appoints JPMorgan’s Paul Compton as new COO

Britain’s Barclays Plc has named JPmorgan Chase & Co executive Paul Compton its new Chief Operating Officer, following the departure of Jonathan Moulds.

Compton, who will join in May, will oversee operations & technology, structural reform, cost transformation and major project delivery, the bank said in a statement on Tuesday.

Compton’s appointment comes at a time when Barclays has been reviewing global operations, and closely follows the appointment of another JPMorgan veteran, Jes Staley, as Chief Executive in December.

Barclays said in an internal memo to staff in January that it planned to cut about 1,000 jobs in investment banking worldwide and close its cash equities business in Asia. Moulds will leave the bank to pursue other opportunities, Barclays said in its statement.