Barclays is shaking up its investment banking arm as part of plans to speed up growth of the department.

Tim Main is succeeding Reid Marsh as head of investment banking EMEA. He will oversee Barclays' regional investment banking franchise, leading the strategy for client coverage and ongoing investment across the UK, continental Europe and the Middle East and Africa.

Marsh will take up the role of global chairman of investment banking and will join the bank’s Global Chairman’s Group, which brings together the firm's most senior investment bankers.

Arif Vohra will take over from Main as global co-head of financial institutions group investment banking.

The bank said that expanding its EMEA franchise is an opportunity to grow its investment banking business globally.

“The investments we’ve made in our franchise over the past several years have been a key driver behind the market share gains we’ve achieved,” said John Miller, global co-head of Investment Banking. “Our continued investment in our franchise – including through elevated roles for our most successful talent – will enable us to consolidate these gains through stronger regional perspectives, more expansive and consistent client coverage, and highly coordinated delivery of our services and advice.”

The move comes days after Barclays agreed to pay $361 million to the Securities and Exchange Commission (SEC) over charges relating to over-issuance of securities.

The US agency said it charged the bank in connection with the unregistered sale of an “unprecedented” amount of securities because of a failure to roll out internal controls to track these transactions in real-time.

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