In winter of 2015, Mike Bagguley was selected to fulfill the role of Chief Operating Officer (COO) for Barclays PLC. Barclays prominently represents the key figure in the history of the UK’s banking and finance industry. The move was designed to solidify the investment bank’s profitability mode and extend its reach as a global leader. Previously, Bagguley was in charge of the macro markets division. He was tasked with remodeling a profit margin befell by market deficits. Deficits caused by fluctuating interest rates and a decline in commodities trading. Barclays was once the industry leader in investment strategies, but the overall effect of stricter enforcement of regulatory issues, as related to trading revenues, caused a dramatic decline in profit. As head of Operations, his expanded role included restoring Barclays to its former glory by reducing overhead and finding more productive ways to protect assets.
Mike Bagguley being promoted to COO meant that not only did he need to restructure the bank’s revenue margins, but also take a closer look at creating a leaner, more efficient model. Bagguley was already accustomed to narrowing costs, but now he has assumed a much larger role in determining how to best deal with the market volatility. Because overall volatility has been a leading factor in starving profit revenues. Mike Bagguley attended the University of Warwick, graduating in 1988 with a Bachelor’s of Science Degree in Mathematics. As the COO of Barclays since November 2015, Bagguley continues to compile experience using his college background.
The executive position of Chief Operating Officer isn’t his only commitment to the institution. Mike Bagguley also serves as Managing Director Global Head of the United States Derivatives/the Forex trading platform for Barclays Capital. Previously, in 2013 he was selected as unconditional authority of Barclays Capital Forex franchise.