LONDON, April 17 (Reuters) - Barclays announced anumber of promotions in its investment bank's management onFriday, while it continues with a review of the division thatcontributes about half of the group's total profits.
The British lender said in a statement that it had appointedEric Felder as head of markets, a position that gives himsupervision of the investment bank's global sales and tradingbusinesses across all asset classes.
Felder, who joined Barclays from now-defunct U.S. investmentbank Lehman Brothers in 2008, was previously co-head ofsecurities.
In addition Joe McGrath and Richard Taylor were named asco-heads of banking, responsible for the investment bank'sglobal corporate finance and strategic advisory units.
A former Goldman Sachs banker, McGrath was mostrecently a co-head of the global finance and risk solutionsbusiness. Taylor, who has in the past worked for Bank of AmericaMerrill Lynch and HSBC, was head of investmentbanking in the Europe, Middle East and Africa region.
All three report to Eric Bommensath and Tom King, the jointchief executives of corporate and investment banking atBarclays. Hitherto Bommensath had also been head of markets,while King was responsible for banking.
Barclays' chief executive, Antony Jenkins, has embarked onthe third review of the investment bank in as many years inresponse to pressure to cut costs and improve returns.
Analysts predict this might lead to a cut in the investmentbank's size of up to 20 percent. This would equate to about5,000 jobs going out of 26,000 and could strip out about 900million pounds in annual compensation costs.
In its statement Barclays said the promotions "strengthensthe management team and positions the Investment Bank for thenext stage of evolution".
The bank said it will present a strategic update on May 8.
(Reporting by Clare Hutchison; Editing by Greg Mahlich)