Barclays hires new head of Hong Kong coverage

Aaron Tan joins the firm's investment banking division after working with Calyon for less than seven months.
Barclays has confirmed that it has hired Aaron Tan from Calyon Securities as managing director and head of Hong Kong coverage, in an attempt to leverage its investment banking business in the territory.

Tan, who joined Calyon in January, was most recently its head of debt capital markets for Asia-Pacific. In this newly created position, he will be responsible for growing Barclay's investment banking business. Based in Hong Kong, he will report to Chris Hui, BarclaysÆ managing director and head of China and Hong Kong investment banking.

ôWe are looking to increase our presence in Hong Kong substantially and AaronÆs arrival allows us to deliver Barclays CapitalÆs market-leading fixed-income and risk management products to our target client base in Hong Kong,ö says Hui. ôWe are delighted to strengthen our team with his depth of experience and knowledge of the local markets.ö

Tan brings 23-years experience in the Hong Kong banking industry to the firm, having worked at HSBC, Citi and JPMorgan. Prior to joining Calyon, he was Asia head of debt finance and advisory at HSBC.

Driven by securities trading, BarclaysÆ pre-tax profit in the second half of 2006 surged 42%. The firm claims that it will continue to expand across Asia, where it is currently running 14 offices.
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