Barclays' new chief executive, Jes Staley, has turned to his former employer JP Morgan to find his new chief risk officer. CS Venkatakrishnan, who has spent more than two decades in the New York offices of JP Morgan, will move to the British lender in May 2016. He is replacing Barclays' longstanding chief risk officer Robert Le Blanc, who has served under five chief executives since his appointment in 2002.

Mr. Le Blanc will become vice-chairman of risk and strategy and will continue to advise Mr. Staley, who became the head of Barclays in December. Mr. Venkatakrishnan is joining Mr. Staley's team at Barclays as it embarks on a restructuring to prepare for new ring-fencing rules for retail banks.