MOVES-Barclays names Davey as strategy chief for investment bank

LONDON, Oct (HKSE: 3366-OL.HK - news) 9 (Reuters) - Barclays (LSE: BARC.L - news) has appointed Ben Davey as chief strategy officer for its investment bank to help oversee the restructuring of the business, according to an internal memo.

Davey will report to Tom King, chief executive of the investment bank, and join the investment bank executive committee, King said in a memo sent to staff on Friday and seen by Reuters.

Davey was previously head of the financial institutions group (FIG) for banking in Europe, the Middle East and Africa (EMEA), and in that role he had been active in advising Barclays (Swiss: BARC.SW - news) on its investment bank restructuring.

Barclays said in May 2014 it would reduce the size of its investment bank, cutting about 7,000 jobs over three years and exiting areas that were unprofitable or where it lacked scale.

"Ben will be based in London and focus on the ongoing development and execution globally of the strategic agenda for the investment bank ... as we accelerate delivery of our strategy," King said in the memo.

Davey joined Barclays in 2010 from Rothschild, where he was an advisory and M&A banker.

Mike Lamb and Peter Mason replaced Davey as co-heads of financial institutions for Europe, the Middle East and Africa in June.

(Reporting by Steve Slater; editing by Adrian Croft)