LONDON, Jan 29 (Reuters) - Barclays has appointed JPMorgan Chase & Co’s C.S. Venkatakrishnan as its Chief Risk Officer, the bank said on Friday, the latest in a series of JPMorgan alumni to join the British lender.
Venkatakrishnan will be responsible for helping to define and manage Barclays’ risk profile in conjunction with its board, executive committee and the bank’s new CEO Jes Staley, who used to run JPMorgan’s investment bank.
Venkatakrishnan is expected to start at Barclays in May, and is expected to work closely with Finance Director Tushar Morzaria, another JPMorgan veteran.
Venkatakrishnan has served as Head of Model Risk and Development at the U.S. bank since 2012 and Head of Operational Risk since September 2013.
“Mr Venkatakrishnan has a long and well-established track record of helping to prudently define and manage risk appetite in large complex financial institutions like ours,” Staley said in a statement.
“He has extensive experience in the development of regulatory capital models and with stress testing,” he added.
Barclays current Chief Risk Officer Robert Le Blanc will become Vice Chair of Risk and Strategy, following Venkatakrishnan’s appointment. (Reporting By Sinead Cruise; Editing by Rachel Armstrong)