Barclays hires Asia Pacific IB co-heads

Barclays names Kwan as Asia-Pacific IB co-head

The bank has also made three other appointments to restructure its distribution franchise and equity derivative business in the region.
Patrick Kwan
Patrick Kwan

Barclays has named Patrick Kwan as co-head of investment banking for Asia Pacific. He will share the role with Reid Marsh, who is relocating from London.

The pair will replace Matthew Ginsburg, who stepped down from his role as regional head of investment banking in May to take up a position with Barclays outside the region.

Kwan currently serves as head of global finance and risk solutions, a position he has held since 2012, and head of distribution, both for Asia Pacific. In April, he took on the additional role to lead the distribution business for the region.

FinanceAsia reported the appointment of Marsh last week. He joined Barclays in 2010 from Citi, where he was co-head of its global industrials group.

Kwan’s local market knowledge and product expertise complements Marsh’s global experience, particularly with M&A transactions, according to an internal memo seen by FinanceAsia.

Both Kwan and Marsh will be based in Hong Kong and report to Richard Taylor and Joe McGrath, co-heads of global investment banking.

David Campbell will replace Kwan as interim head of distribution for the Asia-Pacific region, while Samson Yip has been named head of North Asia distribution, reporting to Campbell, according to the memo. Campbell will remain in his role of head of macro distribution for the region.

Campbell joined Barclays in London as head of European rates distribution nine years ago and moved to Hong Kong to run North Asia distribution in 2009.

The bank has also integrated distribution and certain structure product sales groups. Jeffrey Juan will act as head of the group for Asia ex-Japan, said the bank in the memo.

Kwan, Marsh, Campbell, Yip and Juan are all managing directors.

The UK lender continues to promote internally to fill senior positions left vacant in the region after a raft of departures since May.

In addition to Ginsburg’s step-down, there was also the retirement of Robert Morrice, chairman and CEO for Asia Pacific, after 17 years at the bank. Jason Rynbeck, vice-chairman of M&A for the region, left for HSBC in May.

Furthermore, Marc Benton, Barclay’s former head of oil-and-gas investment banking, Johan Leven, former head of corporate finance, as well as Helge Weiner-Trapness, former Asia-Pacific head of financial institution groups, have all left the bank.

Barclays plans to cut 100 Asia-Pacific jobs or 5% in investment banking and markets as part of a plan to cut 7,000 jobs worldwide by 2016 in a hope to boost its returns.

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