Barclays is bringing former Bank of America senior executive Mike Joo into a co-CEO role in February 2027, subject to regulatory approval. The move pairs Joo with Adeel Khan, simplifies the division’s leadership structure, and places a veteran U.S. banker in New York as Barclays sharpens its American banking operations.
Key Takeaways
- Mike Joo is expected to become a Barclays co-CEO in February 2027, subject to regulatory approval.
- Joo spent nearly two decades at Bank of America after joining the firm in 2006.
- Adeel Khan will serve alongside Joo while continuing to oversee Global Markets.
- Joo will be based in New York and join Barclays’ Group Executive Committee.
- The new structure replaces the broader four-co-head model introduced in 2024.
The Barclays, Bank of America connection now centers on Mike Joo, who is moving from one of the largest U.S. banks into a senior role at Barclays. The British lender announced on August 17, 2026, that Joo will join in early 2027 before taking up the co-CEO position in February, pending regulatory approval.
Joo will work alongside Adeel Khan, who currently leads Global Markets and has served as a co-head of the broader division since 2021. Barclays said both executives will join its Group Executive Committee, placing them within the company’s senior decision-making structure.
The arrangement also creates a clearer division of responsibilities. Khan will continue overseeing markets, while Joo will take responsibility for Barclays’ banking operations. Joo will be based in New York, giving the new leadership structure a direct U.S. presence.
The appointment comes as large financial institutions continue adjusting senior management structures. Other recent bank leadership transitions have similarly placed experienced financial-services executives into top roles as institutions reorganize leadership responsibilities.
For Barclays, the change carries added significance because it replaces a structure established only two years earlier. The Financial Times reported that the new arrangement moves the division away from the four-co-head model introduced in 2024 and places Joo and Khan at the center of the leadership team.
That structural change provides a stronger news angle than the personnel move alone. Barclays is not simply adding another executive. It is narrowing responsibility for a major business operation to two senior leaders with distinct areas of oversight.
Mike Joo Brings Two Decades of Bank of America Experience
Joo arrives with a long record inside Bank of America, where he joined in 2006 and eventually moved through senior positions spanning corporate banking, markets and operational leadership.
His most recent position was co-head of the bank’s global dealmaking business. Bank of America elevated Joo and Faiz Ahmad to the joint leadership roles in August 2025 as part of a wider management reshuffle.
Less than a year later, Bank of America disclosed that Joo would leave the company for an external opportunity. Reuters reported his departure on August 6, 2026, before Barclays identified him as its incoming co-CEO later that month.
Before reaching the co-head position, Joo held several other senior roles at Bank of America. His responsibilities included North American corporate and banking operations, as well as previous leadership assignments connected to markets and client coverage.
His career also predates Bank of America. The Financial Times reported that Joo previously worked at Credit Suisse and began his career at Goldman Sachs, giving him experience across several major global financial institutions.
The length and range of that background are relevant to the Barclays appointment because the new position combines executive management with oversight of a large banking organization. Joo is entering the role after working across both operating and client-facing functions rather than arriving from a single specialist business.
The personnel shift also follows broader attention on management restructuring at banks as major institutions simplify reporting lines, adjust senior responsibilities and reassess how business units are managed.
New York Role Puts U.S. Operations in Focus
Barclays’ decision to base Joo in New York places one of its two senior division leaders inside the largest U.S. financial center. That matters because the company has maintained a substantial American banking and markets operation while competing with larger Wall Street firms.
Reuters reported that Barclays has sought to improve returns from the division while retaining the scale of its U.S. presence. Joo’s appointment brings in an executive whose recent work has centered heavily on American corporate relationships and global banking operations.
The Financial Times also cited LSEG data showing Barclays ranked sixth globally in fees tracked across major banking transactions through mid-August 2026, generating about $2.7 billion during the period. The figure provides context for the scale of the operation Joo and Khan are expected to oversee.
Khan provides continuity on the markets side. He has held senior responsibility within Barclays for several years and will continue overseeing Global Markets when the new structure takes effect.
Joo, meanwhile, enters from outside the company at a point when Barclays is simplifying how responsibility is divided at the top of the business. That combination gives the new arrangement both continuity and an external senior hire.
The leadership transition remains several months away. Joo is expected to join Barclays in early 2027, with the co-CEO structure scheduled to take effect in February if regulatory approval is received.
Until then, the existing management structure remains in place. The Financial Times reported that Taylor Wright and Cathal Deasy are expected to continue in their current positions before Joo formally assumes his new responsibilities.
The Barclays, Bank of America link therefore reflects more than a transfer between two major financial institutions. It marks a planned leadership restructuring that puts Joo in New York, keeps Khan in charge of markets and reduces the number of executives sharing responsibility at the top of the division.
Frequently Asked Questions
Who is Mike Joo?
Mike Joo is a longtime banking executive who spent nearly two decades at Bank of America after joining in 2006. He most recently served as a co-head of its global dealmaking operations and previously worked at Credit Suisse and Goldman Sachs.
When will Mike Joo become Barclays co-CEO?
Joo is expected to join Barclays in early 2027 and become co-CEO in February 2027. The appointment remains subject to regulatory approval.
Who will serve alongside Mike Joo?
Adeel Khan will serve as co-CEO alongside Joo. Khan will continue overseeing Global Markets, while Joo will assume responsibility for the banking side of the operation.
Where will Mike Joo be based?
Joo will be based in New York. His location places one of Barclays’ two senior division leaders within the company’s important U.S. market.
What does the Barclays, Bank of America move change?
The Barclays, Bank of America executive move brings Mike Joo into a two-person leadership structure with Adeel Khan. It also replaces the broader four-co-head arrangement Barclays introduced in 2024.
