Barclays names Mike Joo and Adeel Khan investment bank co-CEOs

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Barclays has appointed Mike Joo and Adeel Khan as joint chief executives of its investment banking division from February 2027, pending regulatory clearance. Joo is due to arrive from Bank of America, where he most recently held the post of co-head of global investment banking. Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise. He joined the US lender in 2006 and worked in a series of senior positions spanning global corporate and investment banking as well as global markets. Earlier this month, it emerged that Joo was preparing to leave Bank of America for an “external opportunity”, according to an internal memo seen by Private Banker International. Before his time at Bank of America, he spent eight years at Credit Suisse and was co-head of Asia debt capital markets when he departed. He started his career at Goldman Sachs in 1995 and left in 1998. Khan currently oversees Barclays’ global markets business and has been co-head of the investment bank since 2021. He shares responsibility for the division with Cathal Deasy and Taylor Wright, global co-heads of investment banking. He also sits on the group executive committee and reports directly to group chief executive C. S. Venkatakrishnan. In his present role, Khan has main responsibility for the credit, securitised products, macro and equities trading, sales and structured financing operations. He has more than 25 years in financial services and has held a number of senior posts since joining Barclays in 2008. He became global head of credit products in 2014 and co-head of global markets in 2021, before taking sole charge of global markets in 2024. Before joining Barclays, Khan worked at BlueBay Asset Management, where he ran the firm’s credit hedge fund and sat on its investment committee. Both Khan and Joo will be members of the group executive committee. Venkatakrishnan said: ”Since 2023, our Investment Bank has delivered a strong performance, growing revenues and returns and driving a more integrated service for clients. 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.”

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Barclays announced the appointment of Mike Joo and Adeel Khan as co-CEOs of its Investment Banking (IB) division, effective February 2027. Pending regulatory approval, this personnel change is expected to bring strategic shifts to the global investment banking sector. Investors are closely watching the impact of the new leadership structure on future profitability and global market share.

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Barclays' high-level management reshuffle is a strategy to strengthen the competitiveness of its investment banking division by combining former Bank of America executive Mike Joo and current Global Markets head Adeel Khan. Until their official inauguration in February 2027, the regulatory approval process and market reactions will act as key variables.

In the bullish scenario, the combination of the two leaders' expertise could accelerate profitability in the IB division, while in the bearish scenario, organizational instability due to leadership turnover is a concern. Future earnings reports and capital market share indicators must be closely monitored.

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