Barclays has named JPMorgan’s chief administrative officer Paul Compton as its new group COO, effective May 2016.

Compton will be replacing Jonathan Moulds, who is leaving the British banking giant to pursue other opportunities.

In his new role, Compton will be responsible for operations & technology, structural reform, cost transformation, major project delivery, administration, corporate real estate services, and sourcing.

Compton will report directly to Barclays’ group chief executive Jes Staley. Compton will join the executive committee of Barclays as well as chair the group operating committee.

Staley commented: "For nearly 20 years Compton has served in a variety of senior operating roles. His huge directly relevant experience will prove invaluable as we continue our strategic transformation and manage the required changes under Structural Reform."

Compton said: "Over the last few years, Barclays has taken a number of steps to enhance its operating structures and become more efficient. I’m looking forward to working with Jes and the rest of the management team to continue the progress of the business and deliver the performance Barclays’ shareholders expect."