Mike Bagguley is a renowned scholar who graduated in 1988 holding a B.S. in Mathematics from the University of Warwick. He previously worked as the Head of Macro Markets in Barclays Investment Bank until being appointed as the Chief Operating Officer. As part of his position as COO, he speeds up the delivery of the company’s strategic plans effectively, maximizing more profits as well as cutting unnecessary costs. Additionally, Mike Bagguley co-ordinated and ensured delivery of the proposed infrastructural functions as initiated by the company, as well as overseeing the reshaping of the business, its size reduction in matters of commodity products, interest rates, and foreign exchange. He held this position till April 2018 before bidding farewell to the organization after 17 years to become a Financial Markets Executive.
In retrospect, Mike Bagguley gave his opinion on Barclays Investment Bank’s future. He made the following observations:
- Barclays Investment Bank might find it hard to replace the Head of the Investment Bank Tom King who retired in 2016. Barclays can save big chunks of money if they retain the £9.5m they pay King. Over two years later, King has still not been replaced.
- CEO Jes Staley has proficiently worked in the industry and performed impeccably which should see him remain at the top position. He has halted the cash equities, cut 1,200 jobs and stopped the trading of precious metals. Such a move would fasten the radical changes, and in fact, reports have shown that the bank is now on the right track.