Barclays Capital, the investment banking division of Barclays Bank, announced yesterday that it has appointed Zhi Zhong Qiu as vice-chairman for Asia-Pacific and chairman of Greater China. This appointment is a new role for the firm, and so it is positioning the hire as an example of its continued commitment to building its China franchise.
Qiu will be responsible for the development and management of senior client relationships for Barclays Capital. He will also provide senior coverage of financial institutions, government agencies and corporates and help identify and capture business opportunities across the complete spectrum of advisory, capital raising and risk management, especially with regard to cross-border transactions.
He will be based in Hong Kong and will report to Robert Morrice, chairman and CEO of Barclays Asia and the head of investment banking for Asia-Pacific.
Until April 2009, Qiu was chairman of ABN AMRO China and vice-chairman of ABN AMRO Asia, a role he took up in May 2006. Previously, he was chairman of the Greater China region at Credit Suisse First Boston.
Commenting on the appointment, Robert Morrice said in a press release: "Having built his investment banking career over many years in China, Zhi Zhong Qiu has cultivated deep client relationships and has established a well deserved reputation as a strong leader. His appointment will continue the growth of Barclays Capital's successful businesses in China for the benefit of our clients. He is ideally suited to oversee our Greater China operations and will play an invaluable role as we build out our platform in Asia."
"Greater China is a great strategic opportunity for Barclays Capital," Qiu added. "The firm has established a strong foothold in the Greater China region, particularly with the recent investment in New China Trust and through its strategic relationship with China Development Bank. Barclays is clearly committed to growing the franchise in the region and to the continued development of innovative products and services for our clients."