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Morning Coffee: More musical chairs at Barclays in APAC

Musical chairs

Barclays continues to reshuffle its upper ranks in Asia Pacific Share on twitter, appointing Paul Early and Richard Satchwell as co-heads of investment banking in Australia, reports Finance Asia. The move follows the departure of former co-heads Daniel Janes in August and Tim Lindley in November.

Other significant departures this year in the region include Robert Morrice, chairman and chief executive for Asia Pacific, who retired in June, and Jason Rynbeck, vice chairman of M&A for Asia Pacific, who left to join HSBC. These senior comings and goings are emblematic of an eventual year for rank-and-file headcount announcements at Barclays in Asia Pacific. In June the firm began reducing the size of its investment bank in the region by about 5%, or 100 bankers, although this number pales in comparison to the 7,000 job cuts it is making globally in IBD.

Barclays is hiring in other parts of its Asian business, however. Last month the bank revealed plans to boost its Asian wealth sales team by 25% over the next 12 to 18 months. And also in November, Yukiko Hiizumi, Asia Pacific lead of campus recruitment at the British bank, told as that Barclays was set to hire more than 100 graduates for full-time analyst jobs across Asia in 2015  – keeping hiring levels stable on the previous year.

Meanwhile:

Why Hong Kong isn’t yet a magnet for Islamic finance jobs. (Business Times)

Expats in Korea should count themselves lucky to avoid the worst of the country’s gruelling recruitment processes. (Wall Street Journal)

DBS warns of “sub-par” growth in Singapore this year. (Straits Times)

Barclays chairman questions how his counterpart at Standard Chartered has managed to hold down other jobs while chairing the bank. (Guardian)


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