In June 2016, Mike Bagguley was selected to fulfill the role of Chief Operating Officer (COO) for Barclays PLC. Barclays prominently represents a key figure in the history of the UK’s banking and finance industry. The move was designed to solidify the company’s profitability mode and extend its reach as a global leader. Previously, Bagguley was the COO of Barclay’s Investment Bank. And before that, he was in charge of the macro markets division.
In this role, Bagguley was tasked with remodeling a profit margin impacted by market deficits. These deficits were 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, he restored Barclays to its former glory by reducing overhead and finding more productive ways to protect assets.
Mike Bagguley was promoted to COO to restructure the bank’s revenue margins and 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. Overall volatility has been a leading factor in starving profit revenues. Mike Bagguley graduated from the University of Warwick in 1988 with a Bachelor’s of Science Degree in Mathematics. As the COO of Barclays since, 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. Plus, in 2013 he was selected as unconditional authority of Barclays Capital Forex franchise.