Barclays reshuffled its senior global investment bank management on Thursday and is seeking to hire between 50 to 100 people to boost the division under new chief Tim Throsby, according to sources with direct knowledge of the plans. Throsby will become interim head of the bank's markets division while Joe Corcoran, who previously held the role, will move to the newly created position of vice chairman of markets, the sources said as the bank looks to take on Wall Street rivals.

Joe McGrath will be the new global head of banking at Barclays and John Miller will become the head of global industry coverage banking, reporting to McGrath. A spokesman for Barclays confirmed the changes. CEO Jes Staley has stressed that investment banking is a key pillar of the bank's growth strategy and in September appointed former J.P. Morgan colleague Throsby to head the international division that houses Barclays' investment bank.

The British bank worried investors in April when first quarter results showed a weak performance at its markets business, missing out on a bond trading boom enjoyed by Wall Street rivals in the first three months of 2017. In Barclays' trading division, income from its markets business fell 4 percent to 1.35 billion pounds ($1.75 billion) in the first three months of the year, as macro income fell 14 percent due to a weaker performance by its US rates business in particular. Banking fees jumped 51 percent to 726 million pounds, its best performance in three years, outperforming an average 33 percent rise across the US banks.

Copyright Reuters, 2017