UK – Andrew Skirton, co-chief executive of Barclays Global Investors, has been ousted in a management shake-up.

His co-CEO Blake Grossman will now take sole charge at the asset management firm. The move comes amid a broader revamp by Barclays' president Bob Diamond.

IPE understands Barclays felt BGI needed more impetus in client offering and product penetration. A single CEO structure was thought to be the best way forward.

Skirton – who joined Barclays PLC in 1989 – will be “leaving in the course of the month. No set date is yet known,” said senior corporate communications manager Melissa McVeigh.

Skirton and Grossman were appointed co-CEOs in 2002, following the resignation of global CEO Patricia Dunn due to illness, according to the head of corporate communications for BGI in Europe, Robert Jenkins.

Grossman – who joined Barclays in 1985 – will continue to report to Diamond.

Diamond today announced a string of new organisational changes and appointments in the investment management and investment banking arena.

Thomas Kalaris – former Barclays Capital committee member and head of distribution and research – was appointed chief executive of Barclays Wealth Management.

Jerry del Missier and Grant Kvalheim were appointed co-presidents of Barclays Capital.

“These moves will help drive even stronger performance,” said Diamond in a press release.