Michael Bagguley is the COO of the Barclays PLC organization. He got his B.S degree in the area of Mathematics from the University of Warwick and since then has been working and making advancements in his career.
Michael Bagguley also stays up to date on what is happening the world of business. Barclays is not likely to replace Tom King to take over head of the investment bank. This leaves Jes Staley as the head of the business until there is a suitable candidate that can be found.
There has been talk that the bank will not replace King at all since he left his position. King was the CEO of this investment firm since 2013 and has stated he is leaving the bank. This affects many people in the investment field including Michael Bagguley. He is worried about how this move will affect his business. The employees already working at the company are very familiar with the industry and they can handle the tasks of keeping the investment bank going and making sure that the customers are happy.
There are some other reasons that Michael Bugguley investigated as to why the bank may not want to replace King and his position. The bank can save a great deal of money by not replacing the head of the bank. The bank can save millions by keeping this position open. The bank had some hardships in the pat year. They had to let go of 1,200 employees and with the top position open they may be able to put some of these people back to work. They will be able to resume their trading and it may actually end up improving business. While no final decision has been made it is looking like the bank will not replace their top position.