Barclays has appointed of Archibald Cox, Jr. as chairman of Barclays Americas, a region that is a particular focus for Barclays as the firm builds its position in the Investment Banking and Investment Management (IBIM) businesses, while continuing to develop Barclaycard US.
Cox will join Barclays in early May and will report to Barclays President Robert E. Diamond, Jr. He will be a member of the Barclays IBIM Executive Committee. Cox succeeds Chet Feldberg who is retiring this year after serving as Barclays Americas chairman since May 2000.
“The Americas region is an area of great strategic importance and opportunity for Barclays, and one where our investment banking, investment management and, more recently, credit card businesses have enjoyed significant growth. We intend to increase our earnings in the Americas as a percentage of growing group profits, and the appointment of Archie Cox as chairman, Barclays Americas, is a clear signal of that determination,” says John Varley, CEO, Barclays PLC.
“I am delighted to welcome Archie Cox to Barclays. He has a great track record in the global financial services industry, building successful businesses on three continents and delivering real value to clients. At a time of both great challenges and great opportunities in the markets, Archie’s deep experience, knowledge of our industry and personal stature will be important additions to our leadership team in the Americas. He will make significant contributions to our efforts to extend our capabilities and deepen our already strong relationships with clients in the region,” adds Diamond.
“I am extremely enthusiastic about joining Barclays and its strong leadership team. Barclays stands out for its commitment to clients, high ethical standards and world-class execution. These qualities are now more important than ever as clients navigate challenging markets and an evolving global economy. The firm has ambitious growth plans in the Americas and I look forward to contributing to the achievement of these goals,” says Cox.
In a distinguished career in the global financial services business, Cox has helped build impressive investment banking businesses. Cox has held senior positions in North America, Asia and Europe, giving him a truly global business perspective.
Cox began his career at Morgan Stanley & Co. in 1964. In 1973, he was asked to build the firm’s institutional equity business and assumed responsibility for all equity sales and trading. In 1977, Cox launched Morgan Stanley International in London and served as its CEO until 1988.
From May 1990 until July 1993, Cox was president and CEO of The First Boston Corporation and a member of the Group Executive Board of CS First Boston Group, Inc.
From 1986 to 1988, Cox served as a board member of the Securities and Investment Board, which was responsible for regulating the securities and other non-banking financial services businesses in the United Kingdom, and from 1990 to 1993 he served on the board of the Securities Industry Association (SIA) in the United States. In 1993, Cox formed Sextant Group, Inc., a financial advisory and private equity firm.
From 1995 until 2006, he was president and CEO of Magnequench, Inc., a manufacturer of rare earth magnetic material and magnets.
Cox holds a bachelor’s degree in Economics from Harvard College and a MBA from the Harvard Business School. He is chairman of several privately-owned companies, and also serves on the boards of Hutchinson Technology Incorporated, Hutchinson, Minnesota, Unifi Inc., Greensboro, North Carolina and Micell Technologies, Inc., Raleigh, North Carolina.