Tim Throsby, head of investment banking at Barclays, leaves his position as auditor

Tim Throsby, head of Barclays' international division and investment bank, leaves the UK bank after a little over two years.

A statement from the bank released Wednesday presented a wide range of directional changes. Throsby was greeted with great fanfare by JPMorgan, a larger US rival, in 2017. This sudden departure is potentially explosive for a company already struggling with a revolt between a shareholder and its shareholders.

Ashok Vaswani, who heads Barclays UK, "will assume a new role within the group as global head of consumer banking and payments, reporting to the group's chief executive, Jes Staley," the company said.

Vaswani's role "oversees the execution of plans for the group's consumer banking and card and payment business in the UK and around the world," he said.

Throsby left "as a result of the changes announced" Wednesday, according to the firm.

Staley said in his statement: "We are grateful to Tim for his management of Barclays International and BBPLC, as well as for his service to the group more broadly, and we wish him well in the future."

When he joined Barclays, Throsby promised a new era of "commercial zeal" comparable to that of his big competitors. He lamented that, in the past, Barclays employees have lost the "proper focus on risk deployment opportunities," according to Bloomberg.

Last year, Throsby led a redesign of the investment bank, eliminating about 100 executives.

Insiders at the bank told Business Insider that the upheavals had become exhausting. Some worried about the future of the investment bank. The insiders refused to be named to discuss the company's policy.

The spokesman, Simon Hailes, told Business Insider that the concerns were "ridiculous" and that the commitment to Throsby's commercial zeal had not changed, as evidenced by Staley's comments in the declaration:

"The competitiveness of the leading corporate and commercial banking group, thanks to our size and commitment across all asset classes, is critical to Barclays' future returns.

The company announced on Wednesday the other changes of direction, including:

• "Corporate and Investment Banking will be managed in three separate, though connected, units – the World Bank, Global Markets and Corporate Banking – all reporting directly to the Group's President, Jes Staley."
• "Global Banking will include Barclays' Advisory, DCM and ECM activities and will be led by Joe McGrath, Global Head of Banking."
• "Stephen Dainton, currently Global Head of Equities, will act as Global Head of Interim Markets, while Barclays conducts internal and external research towards the appointment of a permanent member to this crucial position."
• "Alistair Currie will lead Barclays Corporate Bank as Business Banking Manager."
• "All three will report to Jes Staley and join the Group Executive Committee effective April 1, 2019."

All moves are subject to regulatory approval, the company said.

When the bank announced the launch of a new category of doctors earlier this year, insiders said the cuts were giving way to promotions for hungry and ambitious juniors. In December, Barclays hired two senior executives, Sanjeev Mordani and Ravi Singh, to work under the authority of the investment director of its international unit Art Mbanefo.