darcy-lai-departs-barclays-capital

Darcy Lai departs Barclays Capital

Barclays' head of Asia-Pacific investment banking leaves as the firm uses the Lehman expertise it has acquired to broaden its presence beyond debt.

Barclays Capital's head of Asia-Pacific investment banking, Darcy Lai, has left the firm and his replacement has not yet been announced.

Lai's departure is part of the Lehmanisation of Barclays, says one banker, referring to the new investment banking structure announced by the bank in December 2008, soon after it struck a deal to buy Lehman Brothers' North America franchise in September. The structure sees former Lehman bankers heading all 15 sector verticals at Barclays Capital. Paul Parker, who was appointed chairman and head of global mergers and acquisitions at Barclays Capital, is also a Lehman banker.

But others suggest Lai's departure is simply a sign of the times. Lai joined Barclays in June 2001....

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