Barclays' chief operating officer Jerry Donini will step down from his post after serving the company for a year. Donini worked as the COO of Barclays Plc's corporate and investment banking division. He joined the bank after Barclays bought Lehman Brothers Holdings Inc's North American operations in 2008. Prior to his appointment at Barclays, Donini worked as a senior index options trader at Deutsche Bank AG.
Donini took the job at Barclays after Rich Ricci combined some of the bank's fixed equities and income teams. Donini's departure in April made him the last COO from the former CEO Robert Diamond's management team to depart the company. This was after the investment bank got fined for manipulating the interbank offered rate in London. Justin Bull will replace Donini by September 1 according to an internal memo seen by Bloomberg News.
Bull joined the lender in 1997. He will report to Barclays Plc's chiefs Tom King, Shaygan Kheradpir and Eric Bommensath according to the memo.
The exit was reported earlier today by The Wall Street Journal. Bank officials did not give statements regarding the report.
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