On July 2, 2025, Barclays announced the appointment of Craig Bright and Anne Marie Darling as the company’s new co-chief operating officers (co-COOs), marking a significant shift in the company’s executive structure. This move follows the departure of former COO Alistair Currie, who is leaving Barclays to pursue a portfolio career involving non-executive board roles in various organizations.
Craig Bright, who previously served as Barclays’ Chief Information Officer (CIO) since 2020, brings extensive experience from his role at Westpac and a strong background in digital transformation and operational excellence. Meanwhile, Anne Marie Darling, a seasoned financial executive and former Goldman Sachs veteran, was brought on board in April 2025 and is expected to bring her 25 years of experience in investment banking and strategic leadership to the co-COO role. Together, they will jointly lead Barclays Execution Services, focusing on streamlining operations and enhancing the bank’s service delivery.
This leadership change comes at a critical time for Barclays as the company embarks on an ambitious strategic overhaul, which includes an ongoing effort to reduce operational costs by £2 billion and return £10 billion to shareholders by 2026. The bank has been restructuring to streamline its operations and refocus its efforts on key revenue-generating areas, such as mergers and acquisitions (M&A), equity capital markets, and sustainable finance.
The co-COO appointments are designed to fortify Barclays’ leadership team as it pushes forward with its cost-cutting initiatives, which aim to boost profitability and shareholder value in the coming years. Barclays CEO CS Venkatakrishnan praised the leadership duo’s complementary skills and their ability to collaborate on strategic decisions, stating that they would be pivotal in driving the bank’s next phase of growth.
Implications for Barclays’ Future
Barclays’ leadership restructuring is being seen as part of a broader strategy to modernize its operations and position itself for long-term success in an increasingly competitive financial sector. The bank is expected to continue refining its operations, particularly in investment banking, to focus on high-margin businesses that will drive profitability. Barclays is placing a renewed emphasis on M&A and other capital markets activities as it looks to leverage its global network to expand its presence and strengthen client relationships.
As Bright and Darling take on their new roles, Barclays faces several challenges in meeting its financial targets for 2026. However, with their collective leadership experience, the two co-COOs are well-positioned to drive the bank’s operational efficiency and ensure that its strategic initiatives are implemented effectively.
The appointment of former ABN Amro CEO Robert Swaak to Barclays’ board in 2026 further signals the bank’s commitment to strengthening its leadership bench and positioning itself as a leading player in the global financial industry.
The Path Ahead for Barclays
The success of Barclays’ restructuring efforts will likely depend on the ability of Bright and Darling to navigate both the operational challenges within the bank and the broader economic environment. Their leadership will be pivotal in executing Barclays’ ambitious growth and profitability strategies, ensuring that the company remains competitive as it moves into its next phase of development.
