Barclays chief poaches another top JP Morgan banker

The boss of Barclays has poached another top banker from JP Morgan in what marks the latest in a series of high-profile defections from the US giant to the British lender.

Jes Staley, who took the helm at Barclays last December and previously spent more than 30 years at JP Morgan, has appointed Tim Throsby, 50, to run the lender’s investment bank.

Mr Throsby, who has been at JPMorgan since 2010, will be Mr Staley’s number two and lead Barclays’s corporate and international division, which also includes its corporate banking and US businesses. He is currently global head of equities at the US bank and his departure is a blow to the American firm, which has lost a number of senior bankers to Barclays since Mr Staley took over as chief executive.

Paul Compton and CS Venkatakrishnan jumped ship earlier this year to become Barclays’s chief operating officer and chief risk operator respectively, as Mr Staley opted to hire from his old employer rather than make internal promotions. Mr Throsby, an Australian who previously worked at banks including Credit Suisse, Goldman Sachs and Lehman Brothers before JPMorgan, will join Barclays in January.

He will be tasked with reviving Barclays investment banking business, which has shrunk through job cuts in recent years and has been hit by a string of regulatory fines, including for Libor-rigging. The appointment of Mr Throsby, who Mr Staley described as "an exceptionally talented and experienced professional",  fills the final open post in the Barclays boss's top team that had lain vacant for six months.