Tom Kalaris, head of Barclays’ wealth management and investment management (WIM) unit and Rich Ricci, head of the bank’s investment banking division, are to retire by 30 June.
Both the impending departures mark the end of a scandal-hit era at Barclays, ousting two of its most senior executives in the biggest shake-up since Bob Diamond, the former chief executive, resigned last July after Barclays admitted rigging benchmark interest rates.
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Ricci and Kalaris had both been close deputies of Diamond.
Kalaris is also an executive chairman of Barclays in the Americas, alongside being the CEO WIM, and are expected to leave with the full amount of this year salaries and be eligible to claim deferred bonuses in the future.
Peter Horrell has been appointed interim chief executive of wealth and investment management, reporting to chief executive Anthony Jenkins.
Horrell has been managing director, intermediaries, international and direct businesses, which together comprise over one third of the global WIM division of Barclays.
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By GlobalDataHe is also a member of the Barclays WIM executive committee and Barclays’ leadership and execution team.
Jenkins praised the work of Ricci and Kalaris, but said a major focus of his was improving the way the bank was managed while strengthening control.
"I want to de-layer the organisation – creating a closer day-to-day relationship and clearer line of sight for myself into the business," Jenkins said.
