The former head of Barclays’ European financial institutions group, who switched to take charge of the investment bank's strategy in October, has been handed a wider brief overseeing strategic initiatives across the UK group.

Ben Davey has been appointed chief strategy officer for Barclays, according to a person familiar with the appointment. He reports to group finance director Tushar Morzaria and Paul Compton, a former JP Morgan banker who joined Barclays as its chief operating officer in May 2016.