Barclays is undertaking a reorganization of its investment banking leadership, according to an internal memo distributed by Chief Executive CS Venkatakrishnan on Monday.

The bank has recruited Mike Joo from Bank of America to serve as co-chief executive of its investment banking unit. Joo is slated to begin his role in February, based in New York, and will also join Barclays' executive committee.

In a parallel move, Adeel Khan has been elevated to co-chief executive of investment banking, with responsibility for overseeing global markets operations.

Barclays has confirmed the contents of the memo but declined to provide further commentary.