Barclays announces FX expansion

UK bank appoints four new directors and makes an additional strategic change.
Barclays Capital has announced a significant push in its foreign exchange team, announcing the appointment of four director-level hires and one strategic change in the Asia-Pacific region.

In the British firmÆs Singapore offices, Yue Wu has come to the bank as director and head of FX distribution, Asia-Pacific. Reporting to Justin Bull, head of sales Asia-Pacific and George Athanasopoulos, head of global FX sales, Wu will assume responsibility for institutional coverage of both Japan and non-Japan Asia. As part of his newly created role, he will work closely with Lutfey Siddiqi, Barclays CapitalÆs head of risk advisory corporate FX, Asia-Pacific with the goal of delivering its FX offering to its clients across the region. Yue Wu was previously head of FX sales for Asia at Merrill Lynch.

Also joining Barclays Capital in Singapore is Scott Richards, who takes on the role of director, FX spot trading. Reporting to Justin Gray, its head of FX spot trading in Singapore and will primarily be responsible for trading FX spot sterling and sterling crosses in the Asia-Pacific time zone.

Richards joins Barclays from ABN AMRO in Amsterdam, where he covered G7 spot trading and replaces an unnamed employee that has departed the firm.

Elsewhere in Barclays Singapore offices, James Hassett comes to the firm as director, FX forwards trading. With responsibility for trading short-end interest rate products, heÆll report to Dean Tonkin, head of FX forwards, Asia-Pacific, who will be relocating to Tokyo to take on the newly created role of head of FX trading Japan in addition to his present role.

Hassett shifts to Barclays from CustomÆs House Capital where has desk head for the short-term interest rate trading team and replaces an internal transfer.

In the firmÆs Tokyo offices, Jun Arachi comes on board as director, corporate FX sales in Japan. Reporting locally to Akio Kashima, head of FX Japan and regionally to Siddiqi, he will drive Barclays FX marketing and FX derivatives to Japanese corporates. HeÆll also be responsible for delivering its structuring, research, risk advisory and Ecommerce.

Arachi heads over to Barclays from Mizuho Corporate Bank in Tokyo where he was responsible for structuring and marketing FX derivatives to corporates.

According to Barclays, the moves are in response to an expansion of its FX business throughout the region and a necessary step to take the business to the next level.

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