Barclays' managing director of litigation and investigations will step down at the end of February after nine years at the bank, Barclays has announced.

A memo to staff at the bank said Jonathan Peddie, who also held the role of global head of the financial crime legal team, would leave the bank at the end of next month.

The memo to staff said: "Jonathan has been a valued member of the leadership team and a major contributor to many functional initiatives and activities. We are grateful for everything Jonathan has done for Barclays and ask that you join in wishing him well in his future career."

In his time at the bank Peddie has been involved in consumer litigation and regulatory and criminal investigations.

Legal Week understands a replacement for Peddie has not yet been appointed but that one an appointment will be made in the near future.

Barclays is phasing out a number of its legal teams, including Peddie's litigation and special investigations unit, as part of a move towards a more unified company-wide legal team.

It is understood that Peddie's departure is unrelated to the restructuring and he will be seeking an alternative legal role after he leaves Barclays.