British bank Barclays recruited from within for the role of head of banking for Europe, the Middle East and Asia-Pacific.
The bank promoted Reid Marsh to head its banking activities for Europe, the Middle East and Asia-Pacific, (EMEA). The seven year Barclay's veteran will be responsible for leading originations and supporting key banking clients in the Europe EMEA region. Marsh will split his time between London and Hong Kong and report to Joe McGrath, global head of banking.
Wealth Management Disposal
Marsh served most recently as the Barclays co-head of investment banking in the Asia-Pacific region based in Hong Kong, a post he had held since July 2014. Since early 2016 the U.K. bank has been cutting costs and headcount across the Asian region in an effort to improve profitability.
The bank has already shuttered its cash equities business in Asia, sold its wealth-management operations in Singapore and Hong Kong to Bank of Singapore and exited operations in several countries in the region. The move means Jaideep Khanna has been named sole head of Asia Pacific.
China Focus
Barclays is bulking up in Hong Kong however with the aim of bolstering its Chinese investment banking business. The British bank has recently hired Pamela Yeung as head of equities capital markets distribution for China.
Yeung was a longtime Citigroup banker who most recently worked for China Minsheng, the London-headquartered bank also hired Angela Hu from J.P. Morgan as its head of China financial sponsors.
