2 Executives Depart in Management Shake-Up at Barclays

1:11 p.m. | Updated

LONDON — Barclays, the global bank that has been in the spotlight over its role in a rate-rigging scandal, is shaking up its management ranks as it seeks to distance itself from the era of Robert E. Diamond Jr., its former chief executive.

Rich Ricci, the head of the bank’s investment banking group, and Thomas L. Kalaris, head of wealth management division — both top lieutenants to Mr. Diamond — are leaving the bank as part of the changes.

And in an effort to bolster its American operations, Barclays named Hugh E. McGee III, a former Lehman Brothers banker, chief executive of Barclays Americas as of May 1.

The moves are part of a broader strategy by Antony P. Jenkins, who took over as chief executive from Mr. Diamond last year, to change Barclays’ culture.

The appointment of Mr. McGee, who is known as Skip, could help Mr. Jenkins to fully integrate the former Lehman operation, which some analysts have said remained a challenge. Barclays bought Lehman’s North American investment banking business in 2008. While at Lehman, Mr. McGee had been global head of investment banking and advised mainly energy and power companies. After Barclays took over Lehman, he became the head of Barclays’ corporate and investment banking in the Americas.

Mr. Jenkins “is looking at the management and is saying, ‘I really want people who are going to be here for the long haul, and I want them now,’ ” Christopher Wheeler, an analyst at Mediobanca, said. “Shareholders just want some certainty.”

Mr. Jenkins is also removing one layer of management at the investment bank. Eric Bommensath, the head of markets at Barclays, and Tom King, chief of the firm’s investment banking division, will become co-chief executives of the corporate and investment banking division on May 1. They will join the bank’s executive committee and report directly to Mr. Jenkins.

Mr. Bommensath, a French national, joined Barclays in London in 1997 as head of derivatives in Europe. Mr. King came to Barclays in December 2009 from Citigroup. He was head of Barclays investment banking division in Europe and co-head of global corporate finance.

Mr. Ricci had been expected to leave since the departure of Mr. Diamond and Jerry del Missier, the former chief operating officer who resigned after the bank’s $450 million settlement with authorities over its role in the manipulation of the London interbank offered rate, or Libor. Mr. Diamond, Mr. Ricci and Mr. del Missier were known in the banking world as the “three musketeers.”

Mr. Ricci also attracted some public anger recently over his pay package. Regulatory filings this year showed that Mr. Ricci had cashed in $26 million of deferred shares. He was awarded the shares — some 5.7 million — as part of his bonus from 2009 to 2011. (Among his other public relations embarrassments were those that involved his love of horse racing, including his unfortunately named racehorse, Fat Cat in the Hat.)

Mr. Kalaris is to retire as head of its wealth and investment management division and executive chairman of Barclays in the Americas on June 30. Peter Horrell, the head of the bank’s intermediaries, international and direct businesses, will take over as interim chief executive of the wealth and investment management unit. Barclays is still reviewing its wealth management business and how it will fit with other operations.

“Since I became group chief executive, a major area of focus for me has been to streamline and improve how the bank is managed, while strengthening control,” Mr. Jenkins said in a statement. The “changes are the next step in that journey.”

Barclays is still looking for a chief financial officer to replace Christopher G. Lucas, who announced his retirement in February. Mr. Lucas promised to stay on at the bank until a replacement is found.